DiamondRock Hospitality Company (DRH) Given Consensus Recommendation of “Hold” by Brokerages

DiamondRock Hospitality Company (NYSE:DRH) has earned an average rating of “Hold” from the thirteen brokerages that are presently covering the firm. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $11.08.

DRH has been the topic of several recent research reports. Zacks Investment Research cut DiamondRock Hospitality Company from a “buy” rating to a “hold” rating in a report on Monday, February 13th. Barclays PLC reaffirmed a “buy” rating and set a $12.00 price objective on shares of DiamondRock Hospitality Company in a report on Tuesday, February 14th. Evercore ISI cut DiamondRock Hospitality Company from a “hold” rating to an “underperform” rating in a report on Friday, March 3rd. Canaccord Genuity reaffirmed a “buy” rating and set a $13.00 price objective on shares of DiamondRock Hospitality Company in a report on Monday, March 6th. Finally, Goldman Sachs Group Inc initiated coverage on DiamondRock Hospitality Company in a report on Monday, April 10th. They set a “neutral” rating and a $11.00 price objective on the stock.

Shares of DiamondRock Hospitality Company (NYSE:DRH) remained flat at $11.20 during midday trading on Tuesday. 1,203,536 shares of the company were exchanged. The firm has a market cap of $2.24 billion, a PE ratio of 21.13 and a beta of 1.28. DiamondRock Hospitality Company has a 52 week low of $8.57 and a 52 week high of $12.00. The company has a 50-day moving average price of $11.08 and a 200 day moving average price of $11.06.

DiamondRock Hospitality Company (NYSE:DRH) last issued its quarterly earnings data on Friday, May 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The business had revenue of $196.21 million for the quarter, compared to analysts’ expectations of $192.85 million. DiamondRock Hospitality Company had a return on equity of 6.37% and a net margin of 12.62%. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. On average, equities research analysts anticipate that DiamondRock Hospitality Company will post $0.49 earnings per share for the current year.

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A number of hedge funds have recently added to or reduced their stakes in DRH. World Asset Management Inc raised its stake in DiamondRock Hospitality Company by 0.9% in the first quarter. World Asset Management Inc now owns 12,765 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 108 shares during the last quarter. Ronald Blue & Co. LLC raised its stake in DiamondRock Hospitality Company by 4.6% in the first quarter. Ronald Blue & Co. LLC now owns 11,087 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 483 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in DiamondRock Hospitality Company by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 644 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in DiamondRock Hospitality Company by 5.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,706 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 741 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in DiamondRock Hospitality Company by 6.3% in the first quarter. Glen Harbor Capital Management LLC now owns 13,226 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 782 shares during the last quarter.

DiamondRock Hospitality Company Company Profile

DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.

12 Month Chart for NYSE:DRH

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