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

Truist Financial reaffirmed their buy rating on shares of Playa Hotels & Resorts (NASDAQ:PLYA) in a report published on Tuesday,Benzinga reports. Truist Financial currently has a $13.00 target price on the stock.

Separately, Oppenheimer upped 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 report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Playa Hotels & Resorts currently has an average rating of “Moderate Buy” and an average price target of $12.00.

Playa Hotels & Resorts Stock Down 0.8 %

PLYA opened at $12.25 on Tuesday. Playa Hotels & Resorts has a 52 week low of $6.95 and a 52 week high of $12.70. The business has a 50 day moving average price of $9.56 and a two-hundred day moving average price of $8.55. The company has a quick ratio of 2.14, a current ratio of 2.24 and a debt-to-equity ratio of 2.16. The company has a market cap of $1.49 billion, a PE ratio of 25.52, a P/E/G ratio of 1.52 and a beta of 1.64.

Institutional Investors Weigh In On Playa Hotels & Resorts

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