Brokerages Set DiamondRock Hospitality (NYSE:DRH) Target Price at $9.75

DiamondRock Hospitality (NYSE:DRHGet Rating) has earned an average rating of “Hold” from the nine research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $9.75.

DRH has been the subject of a number of analyst reports. Zacks Investment Research lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating in a research report on Friday, April 22nd. Raymond James lowered DiamondRock Hospitality from an “outperform” rating to a “market perform” rating in a research report on Monday, January 10th. StockNews.com began coverage on DiamondRock Hospitality in a report on Thursday, March 31st. They issued a “hold” rating on the stock. The Goldman Sachs Group upped their price objective on DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “sell” rating in a report on Wednesday, April 6th. Finally, Wells Fargo & Company upped their price objective on DiamondRock Hospitality from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Thursday, March 10th.

DRH stock opened at $10.28 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average of $9.95. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -93.45 and a beta of 1.57. DiamondRock Hospitality has a 1 year low of $8.04 and a 1 year high of $11.15.

DiamondRock Hospitality (NYSE:DRHGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $179.36 million. DiamondRock Hospitality had a negative net margin of 1.98% and a negative return on equity of 0.90%. DiamondRock Hospitality’s revenue for the quarter was up 170.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.12) earnings per share. Equities research analysts forecast that DiamondRock Hospitality will post 0.68 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in DRH. US Asset Management LLC acquired a new position in DiamondRock Hospitality during the first quarter worth $47,000. Focused Wealth Management Inc acquired a new position in DiamondRock Hospitality during the first quarter worth $71,000. Van ECK Associates Corp lifted its stake in DiamondRock Hospitality by 15.6% during the third quarter. Van ECK Associates Corp now owns 9,753 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 1,317 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in DiamondRock Hospitality during the third quarter worth $96,000. Finally, Advisor Partners LLC acquired a new position in DiamondRock Hospitality during the fourth quarter worth $100,000. Institutional investors own 99.54% of the company’s stock.

DiamondRock Hospitality Company Profile (Get Rating)

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique boutique hotels in the lifestyle segment.

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Analyst Recommendations for DiamondRock Hospitality (NYSE:DRH)

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