StockNews.com Initiates Coverage on Ashford (NYSEAMERICAN:AINC)

Analysts at StockNews.com began coverage on shares of Ashford (NYSEAMERICAN:AINC) in a research report issued on Tuesday. The brokerage set a “buy” rating on the financial services provider’s stock.

AINC has been the topic of a number of other reports. B. Riley cut their price target on Ashford from $15.00 to $10.00 in a report on Monday, May 22nd. Oppenheimer cut their price target on Ashford from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 10th.

Ashford Stock Performance

Shares of AINC stock opened at $8.18 on Tuesday. Ashford has a 52-week low of $8.18 and a 52-week high of $18.30. The firm has a market capitalization of $26.26 million, a P/E ratio of -0.67 and a beta of 1.89. The stock has a 50 day moving average price of $9.58 and a 200 day moving average price of $10.99.

Ashford (NYSEAMERICAN:AINC) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.33 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.50). The firm had revenue of $192.71 million for the quarter, compared to analysts’ expectations of $181.71 million. Ashford had a negative return on equity of 17.46% and a net margin of 0.01%. As a group, sell-side analysts forecast that Ashford will post 5.83 EPS for the current year.

Hedge Funds Weigh In On Ashford

A hedge fund recently raised its stake in Ashford stock. Vanguard Group Inc. grew its stake in Ashford Inc. (NYSEAMERICAN:AINC) by 5.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,717 shares of the financial services provider’s stock after buying an additional 4,314 shares during the quarter. Vanguard Group Inc. owned 2.71% of Ashford worth $1,400,000 as of its most recent SEC filing. Institutional investors and hedge funds own 12.95% of the company’s stock.

About Ashford

Ashford, Inc is an asset management firm. The firm provides investment management and related services to the real estate and hospitality sectors. Ashford, Inc was formed on April 2, 2014 and is based in Dallas, Texas. Ashford Inc(NYSEAM:AINC) operates independently of Ashford Hospitality Trust, Inc as of November 5, 2019.