Zacks Investment Research Downgrades Extended Stay America, Inc. (STAY) to Sell

Zacks Investment Research downgraded shares of Extended Stay America, Inc. (NYSE:STAY) from a hold rating to a sell rating in a research note published on Tuesday, October 17th.

According to Zacks, “Extended Stay America, Inc. owns and operates hotels under the core brand, Extended Stay America(R). It is the owner/operator of company-branded hotels in North America. The Company offers guest rooms, dining services, on-site laundry, local phone calls, personalized voicemail, pools, fitness centers, and pet friendly accommodations. Extended Stay America, Inc. is headquartered in Charlotte, North Carolina. “

A number of other equities research analysts have also weighed in on STAY. BidaskClub raised shares of Extended Stay America from a buy rating to a strong-buy rating in a report on Tuesday, June 27th. Stifel Nicolaus reissued a buy rating and set a $21.00 target price (up from $20.00) on shares of Extended Stay America in a research note on Thursday, June 29th. Finally, Robert W. Baird restated a buy rating and set a $21.00 price objective on shares of Extended Stay America in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $21.20.

Extended Stay America (NYSE STAY) traded up $0.16 on Tuesday, reaching $20.07. 2,293,853 shares of the company’s stock traded hands, compared to its average volume of 1,684,399. The firm has a market capitalization of $3,829.60, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. Extended Stay America has a 1 year low of $13.60 and a 1 year high of $20.95. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.07 and a current ratio of 0.07.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado grew its position in Extended Stay America by 122.8% during the second quarter. Public Employees Retirement Association of Colorado now owns 5,202 shares of the company’s stock valued at $101,000 after buying an additional 2,867 shares during the period. Cable Hill Partners LLC bought a new position in Extended Stay America during the third quarter valued at about $104,000. Meeder Asset Management Inc. bought a new position in Extended Stay America during the first quarter valued at about $105,000. Asset Management One Co. Ltd. grew its position in Extended Stay America by 134.4% during the first quarter. Asset Management One Co. Ltd. now owns 7,500 shares of the company’s stock valued at $120,000 after buying an additional 4,300 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Extended Stay America by 6.3% during the second quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock valued at $120,000 after buying an additional 367 shares during the period.

About Extended Stay America

Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.

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Analyst Recommendations for Extended Stay America (NYSE:STAY)

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