DiamondRock Hospitality (DRH) Rating Increased to Hold at ValuEngine

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DiamondRock Hospitality (NYSE:DRH) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Monday.

A number of other research analysts have also recently commented on DRH. Zacks Investment Research upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Monday, October 15th. Wells Fargo & Co lowered DiamondRock Hospitality from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $14.00 to $11.00 in a research report on Wednesday, October 31st. TheStreet lowered DiamondRock Hospitality from a “b-” rating to a “c” rating in a research report on Tuesday, November 6th. Barclays lowered DiamondRock Hospitality from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $13.00 to $11.00 in a research report on Tuesday, December 18th. Finally, Morgan Stanley set a $8.00 target price on DiamondRock Hospitality and gave the stock a “sell” rating in a research report on Thursday, December 20th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $10.14.

Shares of DRH opened at $10.35 on Monday. DiamondRock Hospitality has a 52 week low of $8.69 and a 52 week high of $12.99. The firm has a market capitalization of $2.13 billion, a PE ratio of 10.35, a PEG ratio of 2.00 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.48 and a quick ratio of 2.48.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.12). DiamondRock Hospitality had a net margin of 10.45% and a return on equity of 4.74%. The firm had revenue of $220.81 million during the quarter, compared to the consensus estimate of $227.40 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. As a group, analysts expect that DiamondRock Hospitality will post 1.01 EPS for the current year.

A number of large investors have recently made changes to their positions in DRH. Schroder Investment Management Group raised its position in DiamondRock Hospitality by 96.0% during the 2nd quarter. Schroder Investment Management Group now owns 2,584,024 shares of the real estate investment trust’s stock worth $31,266,000 after purchasing an additional 1,265,519 shares during the last quarter. United Services Automobile Association raised its position in shares of DiamondRock Hospitality by 17.7% in the 2nd quarter. United Services Automobile Association now owns 701,529 shares of the real estate investment trust’s stock worth $8,615,000 after acquiring an additional 105,536 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of DiamondRock Hospitality by 41.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 135,546 shares of the real estate investment trust’s stock worth $1,580,000 after acquiring an additional 39,534 shares in the last quarter. Bank of Montreal Can raised its position in shares of DiamondRock Hospitality by 641.7% in the 3rd quarter. Bank of Montreal Can now owns 37,925 shares of the real estate investment trust’s stock worth $443,000 after acquiring an additional 32,812 shares in the last quarter. Finally, First Hawaiian Bank bought a new position in shares of DiamondRock Hospitality in the 3rd quarter worth about $171,000.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 30 premium quality hotels with over 9,900 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.

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Analyst Recommendations for DiamondRock Hospitality (NYSE:DRH)

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