Brokerages Set DiamondRock Hospitality (NYSE:DRH) Price Target at $9.04

DiamondRock Hospitality (NYSE:DRH - Get Free Report) has earned an average rating of "Hold" from the seven brokerages that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $9.04.

DRH has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research report on Friday, May 2nd. Morgan Stanley decreased their price objective on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Bank of America raised DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company cut their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Finally, Evercore ISI cut their price objective on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a research report on Monday, April 28th.

Institutional Investors Weigh In On DiamondRock Hospitality

A number of hedge funds have recently made changes to their positions in DRH. Versant Capital Management Inc raised its stake in DiamondRock Hospitality by 156.3% in the first quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 2,256 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of DiamondRock Hospitality during the fourth quarter worth about $34,000. State of Wyoming acquired a new stake in DiamondRock Hospitality during the fourth quarter worth about $54,000. FIL Ltd acquired a new stake in DiamondRock Hospitality during the fourth quarter worth about $60,000. Finally, DRW Securities LLC acquired a new stake in DiamondRock Hospitality in the first quarter valued at approximately $84,000.

DiamondRock Hospitality Stock Up 0.7%

Shares of NYSE DRH traded up $0.05 during trading on Friday, reaching $7.67. The company had a trading volume of 3,458,435 shares, compared to its average volume of 2,214,589. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a 12-month low of $6.19 and a 12-month high of $10.00. The stock has a market cap of $1.58 billion, a PE ratio of 27.39, a P/E/G ratio of 2.06 and a beta of 1.33. The business's 50-day moving average is $7.38 and its 200 day moving average is $8.33.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $254.85 million for the quarter, compared to analysts' expectations of $256.47 million. DiamondRock Hospitality had a return on equity of 4.25% and a net margin of 6.30%. The business's revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. As a group, equities analysts forecast that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Company Profile

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.