why DiamondRock Hospitality Company [DRH] is a Good Choice for Investors After New Price Target of $10.78

DiamondRock Hospitality Company [NYSE: DRH] traded at a low on 11/03/22, posting a -1.94 loss after which it closed the day’ session at $8.59. The company report on November 3, 2022 that DIAMONDROCK HOSPITALITY COMPANY REPORTS THIRD QUARTER RESULTS.


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Record Third Quarter Revenue & Profits.

The results of the trading session contributed to over 2830620 shares changing hands. Over the past one week, the price volatility of DiamondRock Hospitality Company stands at 4.09% while the volatility over the past one month is 3.55%.

The market cap for DRH stock reached $1.79 billion, with 212.83 million shares outstanding and 205.98 million shares in the current float. Compared to the average trading volume of 2.09M shares, DRH reached a trading volume of 2830620 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about DiamondRock Hospitality Company [DRH]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DRH shares is $10.78 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DRH stock is a recommendation set at 2.60. 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.

Evercore ISI have made an estimate for DiamondRock Hospitality Company shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 18, 2022. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $11 to $10. The new note on the price target was released on August 29, 2022, representing the official price target for DiamondRock Hospitality Company stock. Previously, the target price had yet another raise to $10, while Evercore ISI analysts kept a In-line rating on DRH stock.

The Average True Range (ATR) for DiamondRock Hospitality Company is set at 0.35, with the Price to Sales ratio for DRH stock in the period of the last 12 months amounting to 2.11. The Price to Book ratio for the last quarter was 1.16, with the Price to Cash per share for the same quarter was set at 0.34. Price to Free Cash Flow for DRH in the course of the last twelve months was 21.90.

How has DRH stock performed recently?

DiamondRock Hospitality Company [DRH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.73. With this latest performance, DRH shares gained by 7.64% in over the last four-week period, additionally sinking by -14.53% over the last 6 months – not to mention a drop of -15.95% 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 DRH stock in for the last two-week period is set at 47.40, with the RSI for the last a single of trading hit 41.69, and the three-weeks RSI is set at 48.81 for DiamondRock Hospitality Company [DRH]. The present Moving Average for the last 50 days of trading for this stock 8.54, while it was recorded at 9.08 for the last single week of trading, and 9.28 for the last 200 days.

Earnings analysis for DiamondRock Hospitality Company [DRH]

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 DRH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for DiamondRock Hospitality Company go to -9.50%.

Insider trade positions for DiamondRock Hospitality Company [DRH]

There are presently around $1,878 million, or 96.30% of DRH stock, in the hands of institutional investors. The top three institutional holders of DRH stocks are: BLACKROCK INC. with ownership of 40,132,606, which is approximately -0.448% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 35,807,961 shares of the stock with an approximate value of $307.59 million in DRH stocks shares; and STATE STREET CORP, currently with $116.85 million in DRH stock with ownership of nearly 0.477% of the company’s market capitalization.

134 institutional holders increased their position in DiamondRock Hospitality Company [NYSE:DRH] by around 14,561,970 shares. Additionally, 100 investors decreased positions by around 12,486,087 shares, while 30 investors held positions by with 191,623,967 shares. The mentioned changes placed institutional holdings at 218,672,024 shares, according to the latest SEC report filing. DRH stock had 45 new institutional investments in for a total of 3,976,363 shares, while 21 institutional investors sold positions of 3,241,458 shares during the same period.

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