Playa Hotels & Resorts (NASDAQ:PLYA) Hits New 52-Week High - Here's Why

Playa Hotels & Resorts (NASDAQ:PLYA - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $13.50 and last traded at $13.49, with a volume of 369283 shares. The stock had previously closed at $13.48.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Macquarie restated a "neutral" rating and issued a $13.50 price objective on shares of Playa Hotels & Resorts in a report on Tuesday, May 6th. Oppenheimer lowered shares of Playa Hotels & Resorts from an "outperform" rating to a "market perform" rating in a report on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Playa Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their target price for the company from $15.00 to $13.50 in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $12.00.

Playa Hotels & Resorts Stock Performance

The business's 50-day simple moving average is $13.41 and its 200 day simple moving average is $12.65. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.14 and a current ratio of 2.24. The firm has a market cap of $1.66 billion, a P/E ratio of 28.09, a P/E/G ratio of 2.44 and a beta of 0.65.

Playa Hotels & Resorts (NASDAQ:PLYA - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $267.29 million during the quarter, compared to the consensus estimate of $262.24 million. Playa Hotels & Resorts had a return on equity of 14.12% and a net margin of 6.84%. The company's quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS. As a group, equities analysts predict that Playa Hotels & Resorts will post 0.56 earnings per share for the current year.

Institutional Trading of Playa Hotels & Resorts

Hedge funds have recently bought and sold shares of the stock. Avidian Wealth Enterprises LLC purchased a new stake in shares of Playa Hotels & Resorts during the 4th quarter valued at about $126,000. Nkcfo LLC purchased a new stake in Playa Hotels & Resorts in the 4th quarter worth about $696,000. Bank of New York Mellon Corp raised its position in Playa Hotels & Resorts by 313.6% in the 4th quarter. Bank of New York Mellon Corp now owns 81,021 shares of the company's stock worth $1,025,000 after purchasing an additional 61,431 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Playa Hotels & Resorts by 86.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,372 shares of the company's stock worth $119,000 after acquiring an additional 4,342 shares in the last quarter. Finally, New South Capital Management Inc. bought a new position in Playa Hotels & Resorts in the 4th quarter worth about $11,374,000. Hedge funds and other institutional investors own 74.58% of the company's stock.

About Playa Hotels & Resorts

Playa Hotels & Resorts NV engages in the operation of hotels and resorts. The firm operates through the following geographical segments: Yucatán Peninsula, Pacific Coast, Dominican Republic, and Jamaica. It owns all-inclusive oceanfront resorts in Cancun, Los Cabos, Montego Bay, Puerto Vallarta, Playa del Carmen, and Cap Cana.

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