Playa Hotels & Resorts (NASDAQ:PLYA) Price Target Raised to $13.00

Playa Hotels & Resorts (NASDAQ:PLYA) had its price target upped by analysts at Truist Financial from $10.00 to $13.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 28.84% from the company’s current price.

Several other research analysts have also weighed in on the stock. Macquarie restated an “outperform” rating and set a $14.00 price objective on shares of Playa Hotels & Resorts in a research note on Wednesday, August 7th. Oppenheimer upped their price objective on Playa Hotels & Resorts from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Citigroup reiterated a “neutral” rating and set a $8.00 target price (down from $12.00) on shares of Playa Hotels & Resorts in a research note on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Playa Hotels & Resorts from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Playa Hotels & Resorts Stock Performance

Shares of NASDAQ PLYA opened at $10.09 on Wednesday. The stock has a market capitalization of $1.23 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 1.57 and a beta of 1.64. Playa Hotels & Resorts has a 52 week low of $6.95 and a 52 week high of $10.13. The stock has a 50 day moving average price of $8.85 and a 200 day moving average price of $8.36. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.14 and a current ratio of 2.24.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP bought a new stake in Playa Hotels & Resorts during the 2nd quarter worth approximately $61,000. Quarry LP grew its stake in shares of Playa Hotels & Resorts by 141.3% in the second quarter. Quarry LP now owns 8,686 shares of the company’s stock worth $73,000 after purchasing an additional 5,087 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Playa Hotels & Resorts during the 2nd quarter worth $88,000. Marshall Wace LLP acquired a new position in Playa Hotels & Resorts during the 2nd quarter worth about $102,000. Finally, AdvisorShares Investments LLC bought a new stake in Playa Hotels & Resorts in the second quarter valued at approximately $105,000. Institutional investors and hedge funds own 74.58% of the company’s stock.

About Playa Hotels & Resorts

Playa Hotels & Resorts N.V., together with its subsidiaries, owns, develops, and operates resorts in prime beachfront locations in Mexico and the Caribbean. It owns and manages Hyatt Zilara Cancún, Hyatt Ziva Cancún, Wyndham Alltra Cancún, Wyndham Alltra Playa del Carmen, Hilton Playa del Carmen All-Inclusive Resort, Hyatt Ziva Puerto Vallarta, and Hyatt Ziva Los Cabos located in Mexico; Hyatt Zilara Rose Hall, Hyatt Ziva Rose Hall, Hilton Rose Hall Resort & Spa, Jewel Grande Montego Bay Resort & Spa, and Jewel Paradise Cove Beach Resort & Spa situated in Jamaica; the Hilton La Romana All-Inclusive Family Resort, the Hilton La Romana All-Inclusive Adult Resort, Hyatt Zilara Cap Cana, Hyatt Ziva Cap Cana, and Jewel Palm Beach located in the Dominican Republic; and manages resorts on behalf of third-party owners.