StockNews.com Upgrades DiamondRock Hospitality (NYSE:DRH) to “Hold”

DiamondRock Hospitality (NYSE:DRH) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

A number of other research analysts also recently issued reports on the company. Truist Financial lowered their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday, August 5th. Finally, Wells Fargo & Company decreased their price objective on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.10.

DiamondRock Hospitality Stock Performance

DRH stock opened at $9.25 on Tuesday. The stock’s 50 day simple moving average is $8.81 and its 200 day simple moving average is $8.54. The company has a current ratio of 1.73, a quick ratio of 2.03 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $9.99. The stock has a market capitalization of $1.92 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 5.33 and a beta of 1.60.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Quarry LP raised its position in shares of DiamondRock Hospitality by 2,093.9% during the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 3,769 shares during the last quarter. Headlands Technologies LLC purchased a new position in DiamondRock Hospitality during the second quarter valued at $42,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in DiamondRock Hospitality by 35.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 2,116 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in DiamondRock Hospitality in the 3rd quarter worth $74,000. Finally, Choreo LLC bought a new position in shares of DiamondRock Hospitality during the 2nd quarter valued at about $89,000.

DiamondRock Hospitality Company Profile

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 leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.