B.Riley FBR analyst Bryan Maher reiterated a Hold rating on Ashford Inc (NYSE: AINC) today and set a price target of $95. The company’s shares opened today at $91.77.
Maher wrote:
“Ashford Inc.’s (AINC) 2Q18 results exceeded our estimates, mainly driven by fees earned by the company from the substantial debt refinancing activity completed at the quarter. Adjusted EBITDA came in at $11.3M, above our estimate of $6.7M. Adjusted EBITDA reflected 167.0% growth Y/Y and the adjusted EBITDA margin of 20.6% declined 95 bps from 2Q17. Adjusted EPS came in at $3.60, handily beating our $1.97 estimate. Currently, B. Riley FBR is the only covering firm. Ashford Inc. continues to explore multiple revenue/earnings growth drivers, as evidenced by its recent acquisition of Remington’s Project Management division for $203.0M (paid for with convertible preferred stock) as well as the recently announced Program (ERFP) with Ashford Hospitality Trust.”
According to TipRanks.com, Maher is a 3-star analyst with an average return of 3.3% and a 60.3% success rate. Maher covers the Financial sector, focusing on stocks such as Industrial Logistics Properties Trust, Government Properties Income Trust, and Senior Housing Properties Trust.
Currently, the analyst consensus on Ashford Inc is a Hold with an average price target of $95.
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The company has a one-year high of $111 and a one-year low of $53. Currently, Ashford Inc has an average volume of 11.38K.
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Ashford, Inc. engages in the provision of asset management and external advisory services to other entities, initially within the hospitality industry. It serves as the external advisor to two real estate investment trusts, namely Ashford Hospitality Trust and Ashford Hospitality Prime; and has a security investment subsidiary called Ashford Investment Management, which is an alternative investment management firm that specializes in creating investment strategies focused on the real estate, hospitality and leisure sectors. The company was founded by Montgomery J. Bennett on April 2, 2014 and is headquartered in Dallas, TX.
