Hilton Worldwide (NYSE:HLT) Sets New 12-Month High on Analyst Upgrade

Hilton Worldwide Holdings Inc. (NYSE:HLT)’s share price hit a new 52-week high during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $232.00 to $240.00. Wells Fargo & Company currently has an equal weight rating on the stock. Hilton Worldwide traded as high as $259.21 and last traded at $258.85, with a volume of 1176587 shares changing hands. The stock had previously closed at $256.27.

A number of other equities analysts also recently weighed in on the stock. Bank of America boosted their target price on shares of Hilton Worldwide from $230.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Truist Financial upped their target price on shares of Hilton Worldwide from $208.00 to $220.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Mizuho lifted their price target on Hilton Worldwide from $237.00 to $243.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Barclays upped their price objective on Hilton Worldwide from $243.00 to $268.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Melius lowered Hilton Worldwide from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hilton Worldwide currently has an average rating of “Hold” and an average target price of $238.71.

Insider Activity

In related news, insider Michael W. Duffy sold 23,366 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $251.66, for a total value of $5,880,287.56. Following the sale, the insider now owns 22,833 shares in the company, valued at approximately $5,746,152.78. This trade represents a 50.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Hilton Worldwide

Several large investors have recently added to or reduced their stakes in HLT. GHP Investment Advisors Inc. purchased a new stake in shares of Hilton Worldwide during the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Hilton Worldwide during the fourth quarter valued at $34,000. Sierra Ocean LLC bought a new position in shares of Hilton Worldwide during the 4th quarter valued at about $36,000. Ashton Thomas Securities LLC purchased a new position in shares of Hilton Worldwide during the third quarter valued at about $38,000. Finally, True Wealth Design LLC increased its holdings in shares of Hilton Worldwide by 2,400.0% in the third quarter. True Wealth Design LLC now owns 175 shares of the company’s stock worth $40,000 after purchasing an additional 168 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

Hilton Worldwide Stock Up 1.0 %

The business has a 50 day moving average of $249.66 and a 200 day moving average of $234.83. The company has a market capitalization of $63.10 billion, a P/E ratio of 55.55, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29.

Hilton Worldwide announced that its board has initiated a share buyback plan on Thursday, November 14th that allows the company to buyback $3.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 5.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hilton Worldwide Company Profile

Hilton Worldwide Holdings Inc, a hospitality company, engages in managing, franchising, owning, and leasing hotels and resorts. It operates through two segments, Management and Franchise, and Ownership. The company engages in the hotel management and licensing of its brands. It operates luxury hotels under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, and Conrad Hotels & Resorts brand; lifestyle hotels under the Canopy by Hilton, Curio Collection by Hilton, Tapestry Collection by Hilton, Tempo by Hilton, and Motto by Hilton brand; full service hotels under the Signia by Hilton, Hilton Hotels & Resorts, and DoubleTree by Hilton brand; service hotels under the Hilton Garden Inn, Hampton by Hilton, and Tru by Hilton brand; all-suite hotels under the Embassy Suites by Hilton, Homewood Suites by Hilton, and Home2 Suites by Hilton brand; and economy hotel under the Spark by Hilton brand, as well as Hilton Grand Vacations.