Zacks Investment Research Upgrades Braemar Hotels & Resorts (NYSE:BHR) to “Buy”

Braemar Hotels & Resorts (NYSE:BHRGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm presently has a $6.00 target price on the stock. Zacks Investment Research‘s price target points to a potential upside of 16.50% from the company’s current price.

According to Zacks, “Braemar Hotels & Resorts Inc. operates as a real estate investment trust. It focused on investing in luxury hotels and resorts. Braemar Hotels & Resorts Inc., formerly known as Ashford Hospitality Prime is based in Texas, United States. “

Other equities analysts have also recently issued reports about the company. B. Riley reaffirmed a “buy” rating and issued a $11.00 price target (up from $10.00) on shares of Braemar Hotels & Resorts in a research note on Monday, May 16th. StockNews.com initiated coverage on Braemar Hotels & Resorts in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Oppenheimer initiated coverage on Braemar Hotels & Resorts in a research note on Thursday, April 21st. They set an “outperform” rating and a $9.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Braemar Hotels & Resorts from $15.00 to $16.00 in a research note on Wednesday, May 18th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $9.80.

Braemar Hotels & Resorts stock traded down $0.12 during trading hours on Tuesday, reaching $5.15. The company had a trading volume of 561,056 shares, compared to its average volume of 534,483. The company has a debt-to-equity ratio of 2.97, a current ratio of 2.52 and a quick ratio of 2.52. The company has a 50-day moving average price of $5.91 and a 200 day moving average price of $5.52. The firm has a market cap of $367.04 million, a price-to-earnings ratio of -13.55 and a beta of 2.48. Braemar Hotels & Resorts has a 12-month low of $4.18 and a 12-month high of $6.73.

In other Braemar Hotels & Resorts news, CFO Deric S. Eubanks sold 31,241 shares of the business’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of $5.66, for a total value of $176,824.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mark Nunneley bought 9,000 shares of the company’s stock in a transaction on Wednesday, March 30th. The stock was bought at an average cost of $22.50 per share, for a total transaction of $202,500.00. The disclosure for this purchase can be found here. 4.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in BHR. Cornercap Investment Counsel Inc. lifted its holdings in shares of Braemar Hotels & Resorts by 0.9% during the first quarter. Cornercap Investment Counsel Inc. now owns 209,518 shares of the company’s stock valued at $1,295,000 after purchasing an additional 1,833 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Braemar Hotels & Resorts by 13.1% during the first quarter. Daiwa Securities Group Inc. now owns 16,950 shares of the company’s stock valued at $105,000 after purchasing an additional 1,967 shares in the last quarter. Sowell Financial Services LLC lifted its holdings in shares of Braemar Hotels & Resorts by 3.4% during the fourth quarter. Sowell Financial Services LLC now owns 68,826 shares of the company’s stock valued at $351,000 after purchasing an additional 2,294 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Braemar Hotels & Resorts by 12.5% during the fourth quarter. California State Teachers Retirement System now owns 31,857 shares of the company’s stock valued at $162,000 after purchasing an additional 3,552 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Braemar Hotels & Resorts by 175.2% during the third quarter. Citigroup Inc. now owns 6,095 shares of the company’s stock valued at $30,000 after purchasing an additional 3,880 shares in the last quarter. 68.99% of the stock is currently owned by institutional investors and hedge funds.

About Braemar Hotels & Resorts (Get Rating)

Braemar Hotels & Resorts is a conservatively capitalized REIT that invests primarily in high RevPAR, full-service luxury hotels and resorts. We are listed on the New York Stock Exchange under the symbol BHR and are externally-advised by Ashford (NYSE American: AINC).

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