La Quinta Receives a Hold from J.P. MorganBy Carrie Williams
J.P. Morgan analyst Joseph Greff reiterated a Hold rating on La Quinta (NYSE: LQ) yesterday and set a price target of $11. The company’s shares opened today at $9.73, close to its 52-week low of $9.42.
According to TipRanks.com, Greff is a 5-star analyst with an average return of 10.0% and a 55.0% success rate. Greff covers the Services sector, focusing on stocks such as Pinnacle Entertainment, Penn National Gaming, and Red Rock Resorts Inc.
La Quinta has an analyst consensus of Moderate Sell, with a price target consensus of $10.
Based on La Quinta’s latest earnings report from June 30, the company posted quarterly revenue of $269.6M and quarterly net profit of $14.85M. In comparison, last year the company earned revenue of $279.1M and had a net profit of $17.06M.
La Quinta Holdings, Inc. operates as an owner, operator and franchisor of select-service hotels. The company operates through two segments: owned hotels and franchise and management. The owned hotels segment through wholly owned subsidiaries except for one hotel, which is owned by a joint venture in which it own a controlling interest. The franchise and management segment operates all of its hotels under a single brand, La Quinta. La Quinta Holdings was founded on December 9, 2013 and is headquartered in Irving, TX.