Truist Financial Reiterates “Buy” Rating for Playa Hotels & Resorts (NASDAQ:PLYA)

Playa Hotels & Resorts (NASDAQ:PLYA)‘s stock had its “buy” rating reissued by Truist Financial in a research report issued on Tuesday,Benzinga reports. They presently have a $13.00 price target on the stock. Truist Financial’s price objective points to a potential upside of 6.12% from the stock’s current price.

Separately, Oppenheimer increased their price objective on shares of Playa Hotels & Resorts from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Playa Hotels & Resorts has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Playa Hotels & Resorts Stock Down 0.8 %

Shares of NASDAQ:PLYA opened at $12.25 on Tuesday. The company’s fifty day moving average is $9.63 and its two-hundred day moving average is $8.58. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.14 and a current ratio of 2.24. Playa Hotels & Resorts has a 1-year low of $6.95 and a 1-year high of $12.70. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 1.52 and a beta of 1.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PLYA. Quarry LP boosted its position in Playa Hotels & Resorts by 141.3% during the 2nd quarter. Quarry LP now owns 8,686 shares of the company’s stock worth $73,000 after acquiring an additional 5,087 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Playa Hotels & Resorts during the second quarter valued at about $88,000. Marshall Wace LLP bought a new stake in shares of Playa Hotels & Resorts during the second quarter valued at about $102,000. AdvisorShares Investments LLC acquired a new stake in Playa Hotels & Resorts in the second quarter worth about $105,000. Finally, Barclays PLC grew its position in Playa Hotels & Resorts by 993.7% in the 3rd quarter. Barclays PLC now owns 21,240 shares of the company’s stock valued at $165,000 after buying an additional 19,298 shares in the last quarter. 74.58% of the stock is owned by institutional investors and hedge funds.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts N.V., together with its subsidiaries, owns, develops, and operates resorts in prime beachfront locations in Mexico and the Caribbean. It owns and manages Hyatt Zilara Cancún, Hyatt Ziva Cancún, Wyndham Alltra Cancún, Wyndham Alltra Playa del Carmen, Hilton Playa del Carmen All-Inclusive Resort, Hyatt Ziva Puerto Vallarta, and Hyatt Ziva Los Cabos located in Mexico; Hyatt Zilara Rose Hall, Hyatt Ziva Rose Hall, Hilton Rose Hall Resort & Spa, Jewel Grande Montego Bay Resort & Spa, and Jewel Paradise Cove Beach Resort & Spa situated in Jamaica; the Hilton La Romana All-Inclusive Family Resort, the Hilton La Romana All-Inclusive Adult Resort, Hyatt Zilara Cap Cana, Hyatt Ziva Cap Cana, and Jewel Palm Beach located in the Dominican Republic; and manages resorts on behalf of third-party owners.