StockNews.com Upgrades DiamondRock Hospitality (NYSE:DRH) to Hold

DiamondRock Hospitality (NYSE:DRH - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Tuesday.

A number of other equities analysts have also recently commented on DRH. Wells Fargo & Company decreased their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an "equal weight" rating on the stock in a research note on Friday, September 13th. Compass Point upgraded DiamondRock Hospitality from a "neutral" rating to a "buy" rating and set a $10.00 price objective for the company in a research report on Monday, August 5th. Finally, Truist Financial reduced their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a "hold" rating for the company in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, DiamondRock Hospitality presently has an average rating of "Moderate Buy" and an average target price of $10.10.

DiamondRock Hospitality Trading Down 1.0 %

DRH traded down $0.09 during trading on Tuesday, hitting $9.16. The company's stock had a trading volume of 1,914,919 shares, compared to its average volume of 1,877,211. DiamondRock Hospitality has a twelve month low of $7.74 and a twelve month high of $9.99. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock's fifty day moving average price is $8.80 and its 200-day moving average price is $8.54. The firm has a market capitalization of $1.90 billion, a P/E ratio of 32.50, a PEG ratio of 5.43 and a beta of 1.60.

Hedge Funds Weigh In On DiamondRock Hospitality

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Natixis acquired a new position in shares of DiamondRock Hospitality in the first quarter valued at approximately $728,000. Centersquare Investment Management LLC raised its position in DiamondRock Hospitality by 40.3% during the 1st quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust's stock worth $56,103,000 after purchasing an additional 1,810,788 shares during the last quarter. Russell Investments Group Ltd. raised its position in DiamondRock Hospitality by 19.9% during the 1st quarter. Russell Investments Group Ltd. now owns 562,844 shares of the real estate investment trust's stock worth $5,409,000 after purchasing an additional 93,381 shares during the last quarter. MQS Management LLC bought a new position in DiamondRock Hospitality during the 2nd quarter worth $480,000. Finally, Millennium Management LLC acquired a new stake in DiamondRock Hospitality during the 2nd quarter worth about $15,118,000.

About DiamondRock Hospitality

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 leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.