Oppenheimer Forecasts Strong Price Appreciation for Playa Hotels & Resorts (NASDAQ:PLYA) Stock

Playa Hotels & Resorts (NASDAQ:PLYA) had its price objective raised by Oppenheimer from $10.00 to $12.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Macquarie reiterated an “outperform” rating and set a $14.00 price target on shares of Playa Hotels & Resorts in a research report on Wednesday, August 7th. Citigroup reiterated a “neutral” rating and issued a $8.00 target price (down from $12.00) on shares of Playa Hotels & Resorts in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Playa Hotels & Resorts from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Truist Financial reduced their target price on Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating for the company in a research report 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.40.

Playa Hotels & Resorts Stock Up 0.6 %

PLYA stock opened at $9.91 on Monday. The stock has a fifty day moving average of $8.22 and a 200-day moving average of $8.27. Playa Hotels & Resorts has a fifty-two week low of $6.95 and a fifty-two week high of $10.13. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 2.01 and a beta of 1.60. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.13 and a current ratio of 2.24.

Institutional Investors Weigh In On Playa Hotels & Resorts

Several hedge funds have recently added to or reduced their stakes in PLYA. Aristides Capital LLC raised its holdings in shares of Playa Hotels & Resorts by 6.0% during the 2nd quarter. Aristides Capital LLC now owns 30,943 shares of the company’s stock valued at $260,000 after buying an additional 1,739 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Playa Hotels & Resorts by 1.4% during the second quarter. AQR Capital Management LLC now owns 144,146 shares of the company’s stock valued at $1,209,000 after buying an additional 2,006 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Playa Hotels & Resorts by 15.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,784 shares of the company’s stock worth $216,000 after buying an additional 3,371 shares during the period. SkyView Investment Advisors LLC lifted its stake in shares of Playa Hotels & Resorts by 8.5% in the 2nd quarter. SkyView Investment Advisors LLC now owns 56,023 shares of the company’s stock valued at $470,000 after acquiring an additional 4,389 shares during the last quarter. Finally, Quarry LP grew its position in Playa Hotels & Resorts by 141.3% during the 2nd quarter. Quarry LP now owns 8,686 shares of the company’s stock worth $73,000 after acquiring an additional 5,087 shares during the last quarter. Institutional investors own 74.58% of the company’s stock.

Playa Hotels & Resorts Company Profile

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.