Playa Hotels & Resorts (NASDAQ:PLYA) Sets New 12-Month High – Time to Buy?

Playa Hotels & Resorts (NASDAQ:PLYA)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $12.70 and last traded at $12.68, with a volume of 533949 shares traded. The stock had previously closed at $12.37.

Wall Street Analysts Forecast Growth

PLYA has been the topic of a number of recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $13.00 price target on shares of Playa Hotels & Resorts in a report on Tuesday, December 24th. Oppenheimer raised their target price on shares of Playa Hotels & Resorts from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Playa Hotels & Resorts presently has an average rating of “Moderate Buy” and an average target price of $12.00.

Playa Hotels & Resorts Trading Up -0.2 %

The firm has a market capitalization of $1.54 billion, a P/E ratio of 26.31, a P/E/G ratio of 1.52 and a beta of 1.64. The company has a current ratio of 2.24, a quick ratio of 2.14 and a debt-to-equity ratio of 2.16. The stock has a 50 day simple moving average of $10.01 and a 200-day simple moving average of $8.72.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PLYA. Quarry LP raised its stake in Playa Hotels & Resorts by 141.3% during the 2nd quarter. Quarry LP now owns 8,686 shares of the company’s stock worth $73,000 after acquiring an additional 5,087 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Playa Hotels & Resorts during the 2nd quarter valued at $88,000. Marshall Wace LLP purchased a new position in shares of Playa Hotels & Resorts during the 2nd quarter valued at $102,000. AdvisorShares Investments LLC bought a new position in Playa Hotels & Resorts in the 2nd quarter worth $105,000. Finally, Barclays PLC increased its stake in Playa Hotels & Resorts by 993.7% in the 3rd quarter. Barclays PLC now owns 21,240 shares of the company’s stock worth $165,000 after buying an additional 19,298 shares in the last quarter. Hedge funds and other institutional investors own 74.58% of the company’s stock.

Playa Hotels & Resorts Company Profile

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.