Hyatt Hotels Co. (H) Earns “Buy” Rating from FBR & Co

FBR & Co restated their buy rating on shares of Hyatt Hotels Co. (NYSE:H) in a report issued on Friday, May 5th. The firm currently has a $63.00 price target on the stock.

“LB reported April SSS of –5%, versus FBR/consensus estimates of –0.1%/–3.3% and guidance of negative low single digits. Comps were affected about –6% due to cycling the apparel/swim product exit LY and +3% from the Easter shift into April. Mall traffic was positive at BBW in April but negative at VS (likely due to the cycling of the Secret Rewards coupons LY). April’s merchandise margin increased, compared to last year, driven by BBW but VS also improved to flat. Inventories per square foot are very clean with February down –12% YOY . LB guided May comps to –MSD/–HSD, with a negative impact of –10% from apparel/swim category exits. 1Q total sales were –7% YOY and comps –9% with a negative impact of –6% from exited categories. We estimate LB May SSS to be –8.5%, versus flat LY . We like the improvement in merch margin and expect SSS to begin to improve as we cycle the swim/apparel exit, bralette ramp, and coupon exits (most cycle ~July/August). We believe LB’s solid brands continue to resonate well with consumers based on our survey work and expect more normalized results in 2H once these pressures ease.”,” the firm’s analyst commented.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Hyatt Hotels from a hold rating to a buy rating and set a $61.00 target price on the stock in a report on Tuesday, January 24th. Morgan Stanley upgraded shares of Hyatt Hotels from an underweight rating to an equal weight rating and raised their price objective for the stock from $51.48 to $53.00 in a report on Tuesday, March 7th. Berenberg Bank lowered shares of Hyatt Hotels from a buy rating to a hold rating and raised their price objective for the stock from $54.50 to $60.00 in a report on Wednesday, January 25th. Stifel Nicolaus raised their price objective on shares of Hyatt Hotels from $54.00 to $59.00 and gave the stock a hold rating in a report on Friday, May 5th. Finally, Guggenheim initiated coverage on shares of Hyatt Hotels in a research note on Wednesday, April 26th. They issued a neutral rating on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. Hyatt Hotels presently has an average rating of Hold and an average price target of $53.20.

Hyatt Hotels (NYSE:H) traded up 0.31% on Friday, hitting $58.10. The stock had a trading volume of 265,050 shares. The company’s 50-day moving average is $55.79 and its 200-day moving average is $54.48. Hyatt Hotels has a one year low of $45.12 and a one year high of $59.30. The stock has a market cap of $7.29 billion, a P/E ratio of 32.08 and a beta of 1.34.

Hyatt Hotels (NYSE:H) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.49. Hyatt Hotels had a net margin of 4.49% and a return on equity of 5.33%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm earned $0.25 earnings per share. On average, analysts anticipate that Hyatt Hotels will post $1.43 earnings per share for the current fiscal year.

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In other news, insider Elsinore Trust sold 70,000 shares of the business’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $52.38, for a total transaction of $3,666,600.00. Following the sale, the insider now owns 338,479 shares in the company, valued at approximately $17,729,530.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Banana B. Trust sold 30,013 shares of the business’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $53.56, for a total transaction of $1,607,496.28. The disclosure for this sale can be found here. Insiders sold 211,068 shares of company stock worth $11,531,899 over the last ninety days. 25.50% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in H. Piedmont Investment Advisors LLC purchased a new position in shares of Hyatt Hotels during the third quarter worth about $603,000. Mason Capital Management LLC purchased a new position in shares of Hyatt Hotels during the third quarter worth about $27,924,000. Clinton Group Inc. boosted its position in shares of Hyatt Hotels by 8.4% in the third quarter. Clinton Group Inc. now owns 64,247 shares of the company’s stock worth $3,162,000 after buying an additional 4,990 shares during the last quarter. UBS Group AG boosted its position in shares of Hyatt Hotels by 13.2% in the third quarter. UBS Group AG now owns 887,882 shares of the company’s stock worth $43,701,000 after buying an additional 103,727 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new position in shares of Hyatt Hotels during the third quarter worth about $238,000. Hedge funds and other institutional investors own 19.52% of the company’s stock.

About Hyatt Hotels

Hyatt Hotels Corporation is a global hospitality company. The Company develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties. The Company operates through four segments: owned and leased hotels; Americas management and franchising (Americas); ASPAC management and franchising (ASPAC), and EAME/SW Asia management and franchising (EAME/SW Asia).

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