Playa Hotels & Resorts (NASDAQ:PLYA) Hits New 52-Week High – Time to Buy?

Playa Hotels & Resorts (NASDAQ:PLYA) hit a new 52-week high during trading on Monday . The company traded as high as $13.46 and last traded at $13.46, with a volume of 300866 shares trading hands. The stock had previously closed at $13.46.

Analysts Set New Price Targets

PLYA has been the subject of a number of recent research reports. Macquarie restated a “neutral” rating and issued a $13.50 target price on shares of Playa Hotels & Resorts in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft lowered Playa Hotels & Resorts from a “buy” rating to a “hold” rating and cut their target price for the company from $15.00 to $13.50 in a research note on Tuesday, February 11th. Finally, Oppenheimer lowered Playa Hotels & Resorts from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Playa Hotels & Resorts has an average rating of “Hold” and a consensus price target of $12.00.

Playa Hotels & Resorts Trading Down 0.0%

The company has a market cap of $1.66 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 2.44 and a beta of 0.67. 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’s fifty day moving average price is $13.40 and its two-hundred day moving average price is $12.51.

Playa Hotels & Resorts (NASDAQ:PLYA) last announced its earnings results on Monday, May 5th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Playa Hotels & Resorts had a net margin of 6.84% and a return on equity of 14.12%. The business had revenue of $267.29 million during the quarter, compared to analyst estimates of $262.24 million. During the same quarter last year, the business posted $0.40 earnings per share. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. Research analysts expect that Playa Hotels & Resorts will post 0.56 earnings per share for the current year.

Institutional Trading of Playa Hotels & Resorts

A number of hedge funds and other institutional investors have recently made changes to their positions in PLYA. Bank of New York Mellon Corp boosted its stake in Playa Hotels & Resorts by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 83,357 shares of the company’s stock valued at $1,111,000 after acquiring an additional 2,336 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Playa Hotels & Resorts by 5,003.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,266 shares of the company’s stock valued at $41,000 after acquiring an additional 3,202 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Playa Hotels & Resorts by 86.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,372 shares of the company’s stock valued at $119,000 after acquiring an additional 4,342 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new stake in Playa Hotels & Resorts in the 1st quarter valued at approximately $73,000. Finally, Avidian Wealth Enterprises LLC bought a new stake in Playa Hotels & Resorts in the 4th quarter valued at approximately $126,000. 74.58% of the stock is currently owned by institutional investors and hedge funds.

About Playa Hotels & Resorts

Playa Hotels & Resorts NV engages in the operation of hotels and resorts. The firm operates through the following geographical segments: Yucatán Peninsula, Pacific Coast, Dominican Republic, and Jamaica. It owns all-inclusive oceanfront resorts in Cancun, Los Cabos, Montego Bay, Puerto Vallarta, Playa del Carmen, and Cap Cana.