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

Playa Hotels & Resorts (NASDAQ:PLYA - Get Free Report) had its price objective increased by analysts at Oppenheimer from $10.00 to $12.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price objective suggests a potential upside of 21.09% from the stock's current price.

A number of other equities analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Playa Hotels & Resorts from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Citigroup reissued a "neutral" rating and set a $8.00 price objective (down from $12.00) on shares of Playa Hotels & Resorts in a research note on Tuesday, August 13th. Macquarie reissued an "outperform" rating and set a $14.00 price objective on shares of Playa Hotels & Resorts in a research note on Wednesday, August 7th. Finally, Truist Financial reduced their price objective on Playa Hotels & Resorts from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.40.

Playa Hotels & Resorts Price Performance

NASDAQ PLYA traded up $0.06 on Monday, reaching $9.91. 1,249,805 shares of the stock traded hands, compared to its average volume of 743,441. The firm's fifty day simple moving average is $8.18 and its 200 day simple moving average is $8.26. The company has a quick ratio of 2.13, a current ratio of 2.24 and a debt-to-equity ratio of 2.16. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 2.01 and a beta of 1.60. Playa Hotels & Resorts has a 12 month low of $6.95 and a 12 month high of $10.13.

Institutional Trading of Playa Hotels & Resorts

A number of hedge funds have recently modified their holdings of PLYA. Russell Investments Group Ltd. lifted its holdings in shares of Playa Hotels & Resorts by 17.9% in the first quarter. Russell Investments Group Ltd. now owns 71,235 shares of the company's stock valued at $691,000 after purchasing an additional 10,820 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Playa Hotels & Resorts in the first quarter valued at $98,000. Lazard Asset Management LLC purchased a new stake in shares of Playa Hotels & Resorts in the first quarter valued at $95,000. Aristides Capital LLC purchased a new stake in shares of Playa Hotels & Resorts in the first quarter valued at $283,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Playa Hotels & Resorts in the first quarter valued at $283,000. Hedge funds and other 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.