Monday, September 21, 2020

For Summit Hotel Properties Inc. [INN], BofA/Merrill sees a rise to $7. What next?

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Summit Hotel Properties Inc. [NYSE: INN] price plunged by -0.17 percent to reach at -$0.01. The company report on August 5, 2020 that Summit Hotel Properties Reports Second Quarter 2020 Results.

Summit Hotel Properties, Inc. (NYSE: INN) (the “Company”), today announced results for the second quarter ended June 30, 2020.

“The lodging industry experienced an unprecedented decline in demand during the second quarter as the spread of COVID-19 forced widespread shutdowns and eliminated the majority of non-essential travel. We were pleased with our ability to quickly adapt and navigate through this very challenging operating environment, allowing us to keep nearly all of our hotels open and gain considerable market share during the quarter. Occupancy and RevPAR levels improved sequentially throughout the quarter driven predominately by weekend leisure demand, particularly outside of core urban markets,” said Dan Hansen, the Company’s Chairman, President and Chief Executive Officer. “As RevPAR trends have improved from trough levels in April, our monthly cash burn rate has been reduced by nearly 40%, and with approximately $270 million of liquidity, we have 38 months of runway at current RevPAR levels. Despite the effects of the current pandemic, we remain bullish on the prospects of our business and believe our actions in response to the crisis position us well to take advantage of opportunities as we enter the recovery,” commented Mr. Hansen.

A sum of 1008242 shares traded at recent session while its average daily volume was at 1.16M shares. Summit Hotel Properties Inc. shares reached a high of $5.97 and dropped to a low of $5.77 until finishing in the latest session at $5.88.

The one-year INN stock forecast points to a potential upside of 25.19. The average equity rating for INN stock is currently 1.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Summit Hotel Properties Inc. [INN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for INN shares is $7.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on INN stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA/Merrill have made an estimate for Summit Hotel Properties Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 01, 2020. While these analysts kept the previous recommendation, CapitalOne raised their target price from $13 to $13.50. The new note on the price target was released on January 13, 2020, representing the official price target for Summit Hotel Properties Inc. stock. Previously, the target price had yet another raise to $13, while CapitalOne analysts kept a Equal Weight rating on INN stock.

The Average True Range (ATR) for Summit Hotel Properties Inc. is set at 0.30, with the Price to Sales ratio for INN stock in the period of the last 12 months amounting to 1.51. The Price to Book ratio for the last quarter was 0.57, with the Price to Cash per share for the same quarter was set at 1.21.

INN Stock Performance Analysis:

Summit Hotel Properties Inc. [INN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.81. With this latest performance, INN shares gained by 16.21% in over the last four-week period, additionally sinking by -34.30% over the last 6 months – not to mention a drop of -46.55% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for INN stock in for the last two-week period is set at 49.58, with the RSI for the last a single of trading hit 48.24, and the three-weeks RSI is set at 50.13 for Summit Hotel Properties Inc. [INN]. The present Moving Average for the last 50 days of trading for this stock 5.71, while it was recorded at 6.00 for the last single week of trading, and 7.82 for the last 200 days.

Insight into Summit Hotel Properties Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Summit Hotel Properties Inc. [INN] shares currently have an operating margin of +6.47 and a Gross Margin at +21.14. Summit Hotel Properties Inc.’s Net Margin is presently recorded at +15.00.

Return on Total Capital for INN is now 1.60, given the latest momentum, and Return on Invested Capital for the company is 3.79. Return on Equity for this stock inclined to 6.96, with Return on Assets sitting at 3.60. When it comes to the capital structure of this company, Summit Hotel Properties Inc. [INN] has a Total Debt to Total Equity ratio set at 88.24. Additionally, INN Total Debt to Total Capital is recorded at 46.88, with Total Debt to Total Assets ending up at 43.97. Long-Term Debt to Equity for the company is recorded at 87.75, with the Long-Term Debt to Total Capital now at 46.61.

Reflecting on the efficiency of the workforce at the company, Summit Hotel Properties Inc. [INN] managed to generate an average of $1,394,932 per employee. Receivables Turnover for the company is 40.25 with a Total Asset Turnover recorded at a value of 0.24.

INN Stock EPS

With the latest financial reports released by the company, Summit Hotel Properties Inc. posted 0.07/share EPS, while the average EPS was predicted by analysts to be reported at 0.07/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for INN.

Summit Hotel Properties Inc. [INN] Insider Position Details

There are presently around $592 million, or 98.40% of INN stock, in the hands of institutional investors. The top three institutional holders of INN stocks are: BLACKROCK INC. with ownership of 20,019,037, which is approximately 1.369% of the company’s market cap and around 2.20% of the total institutional ownership; VANGUARD GROUP INC, holding 14,338,974 shares of the stock with an approximate value of $84.31 million in INN stocks shares; and STATE STREET CORP, currently with $37.59 million in INN stock with ownership of nearly -2.669% of the company’s market capitalization.

Positions in Summit Hotel Properties Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 128 institutional holders increased their position in Summit Hotel Properties Inc. [NYSE:INN] by around 9,045,996 shares. Additionally, 107 investors decreased positions by around 13,924,443 shares, while 32 investors held positions by with 77,676,031 shares. The mentioned changes placed institutional holdings at 100,646,470 shares, according to the latest SEC report filing. INN stock had 47 new institutional investments in for a total of 4,312,986 shares, while 43 institutional investors sold positions of 6,558,208 shares during the same period.

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