Zacks Investment Research upgraded shares of Ashford (NYSEAMERICAN:AINC) from a hold rating to a strong-buy rating in a research note released on Tuesday. They currently have $107.00 target price on the financial services provider’s stock.
According to Zacks, “Ashford Inc. is a provider of asset management and other services to companies within the hospitality industry. It is focused on managing real estate, hospitality, and securities platforms. The Company serves as the advisor to two real estate investment trusts, namely Ashford Hospitality Trust (Ashford Trust) and Ashford Hospitality Prime (Ashford Prime). Ashford Trust is focused on investing in the hospitality industry primarily within the United States. Ashford Prime invests in high RevPAR full-service and urban select-service hotels and resorts. Ashford Inc. is based in Dallas, Texas. “
AINC has been the topic of a number of other research reports. B. Riley lowered Ashford from a buy rating to a neutral rating and lifted their price objective for the company from $67.00 to $81.00 in a report on Tuesday, November 7th. TheStreet raised Ashford from a d rating to a c- rating in a report on Wednesday, October 11th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $80.00.
Ashford announced that its Board of Directors has authorized a share buyback plan on Monday, December 11th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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Ashford Inc provides asset management and advisory services to other entities, primarily within the hospitality industry. The Company operates in the segment of asset and investment management, which includes managing the day-to-day operations of Ashford Hospitality Prime, Inc (Ashford Prime) and its subsidiaries.
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