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

Playa Hotels & Resorts (NASDAQ:PLYA) had its target price hoisted by equities researchers 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 target price indicates a potential upside of 23.08% from the company’s current price.

Other research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft cut 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. Truist Financial cut their price target on shares of Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Macquarie reiterated an “outperform” rating and issued a $14.00 price objective on shares of Playa Hotels & Resorts in a research report on Wednesday, August 7th. Finally, Citigroup restated a “neutral” rating and set a $8.00 target price (down from $12.00) on shares of Playa Hotels & Resorts in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.40.

Playa Hotels & Resorts Trading Down 1.6 %

NASDAQ:PLYA opened at $9.75 on Monday. The firm’s 50 day moving average is $8.26 and its 200 day moving average is $8.27. Playa Hotels & Resorts has a 12 month low of $6.95 and a 12 month high of $10.13. The stock has a market capitalization of $1.19 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 2.01 and a beta of 1.60. The company has a current ratio of 2.24, a quick ratio of 2.13 and a debt-to-equity ratio of 2.16.

Institutional Trading of Playa Hotels & Resorts

Hedge funds have recently made changes to their positions in the stock. Aristides Capital LLC raised its position in Playa Hotels & Resorts by 6.0% during the second quarter. Aristides Capital LLC now owns 30,943 shares of the company’s stock valued at $260,000 after purchasing an additional 1,739 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Playa Hotels & Resorts by 1.4% during the 2nd quarter. AQR Capital Management LLC now owns 144,146 shares of the company’s stock valued at $1,209,000 after buying an additional 2,006 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Playa Hotels & Resorts by 15.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,784 shares of the company’s stock worth $216,000 after buying an additional 3,371 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in Playa Hotels & Resorts by 8.5% in the second quarter. SkyView Investment Advisors LLC now owns 56,023 shares of the company’s stock worth $470,000 after buying an additional 4,389 shares in the last quarter. Finally, Quarry LP grew its position in Playa Hotels & Resorts by 141.3% during the second quarter. Quarry LP now owns 8,686 shares of the company’s stock valued at $73,000 after acquiring an additional 5,087 shares during the last quarter. 74.58% of the stock is owned by institutional investors.

About Playa Hotels & Resorts

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.