Truist Financial Reaffirms Buy Rating for Playa Hotels & Resorts (NASDAQ:PLYA)

Playa Hotels & Resorts (NASDAQ:PLYA)‘s stock had its “buy” rating reaffirmed by Truist Financial in a report released on Tuesday,Benzinga reports. They presently have a $13.00 target price on the stock. Truist Financial’s price target indicates a potential upside of 6.12% from the stock’s current price.

Separately, Oppenheimer upped their target price on shares of Playa Hotels & Resorts from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Playa Hotels & Resorts Stock Down 0.8 %

NASDAQ PLYA opened at $12.25 on Tuesday. The company has a quick ratio of 2.14, a current ratio of 2.24 and a debt-to-equity ratio of 2.16. Playa Hotels & Resorts has a fifty-two week low of $6.95 and a fifty-two week high of $12.70. The business has a 50 day moving average price of $9.63 and a two-hundred day moving average price of $8.58. The stock has a market cap of $1.49 billion, a PE ratio of 25.52, a P/E/G ratio of 1.52 and a beta of 1.64.

Hedge Funds Weigh In On Playa Hotels & Resorts

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP increased its stake in shares of Playa Hotels & Resorts by 141.3% in the second quarter. Quarry LP now owns 8,686 shares of the company’s stock worth $73,000 after buying an additional 5,087 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Playa Hotels & Resorts in the 2nd quarter worth about $88,000. Marshall Wace LLP acquired a new stake in shares of Playa Hotels & Resorts in the 2nd quarter valued at about $102,000. AdvisorShares Investments LLC bought a new position in shares of Playa Hotels & Resorts during the second quarter worth about $105,000. Finally, Barclays PLC grew its stake in Playa Hotels & Resorts by 993.7% in the third quarter. Barclays PLC now owns 21,240 shares of the company’s stock worth $165,000 after purchasing an additional 19,298 shares in the last quarter. 74.58% of the stock is currently owned by hedge funds and other 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.