RBC Capital Thinks Summit Hotel Properties’ Stock is Going to Recover


In a report issued on November 16, Wes Golladay from RBC Capital reiterated a Buy rating on Summit Hotel Properties (INN), with a price target of $14. The company’s shares opened today at $10.81, close to its 52-week low of $10.75.

According to TipRanks.com, Golladay is a 4-star analyst with an average return of 8.0% and a 65.7% success rate. Golladay covers the Financial sector, focusing on stocks such as National Retail Properties, Camden Property Trust, and Essex Property Trust.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Summit Hotel Properties with a $13.90 average price target, which is a 28.6% upside from current levels. In a report issued on November 1, Raymond James also maintained a Buy rating on the stock with a $13.50 price target.

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Based on Summit Hotel Properties’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $37.78 million. In comparison, last year the company had a net profit of $22.32 million.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of INN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Summit Hotel Properties, Inc. is a real estate investment trust. The company operates as a self-managed hotel investment company. It focuses on acquiring and owning premium-branded, select-service hotels in the upscale and upper-midscale segments of the U.S. lodging industry.

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