B.Riley FBR analyst Eric Wold maintained a Buy rating on Red Lion Hotels (RLH) today and set a price target of $12.50. The company’s shares closed yesterday at $7.62, close to its 52-week low of $6.92.
Wold noted:
“Late afternoon on Hotels Corp. (RLH) reported 1Q19 total revenue and adjusted EBITDA that exceeded consensus expectations along with management reaffirming 2019 adjusted EBITDA guidance that remains ahead of consensus and in line with our estimate. Although we would not be surprised if the recent lull in hotel asset sales continues through the peak operating season as management looks to maximize sales proceeds, we do not expect this to limit RLH’s ability to take advantage of additional acquisition opportunities or eventually unlock meaningful shareholder value through these sales.”
According to TipRanks.com, Wold is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.5% and a 41.3% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Currently, the analyst consensus on Red Lion Hotels is a Moderate Buy with an average price target of $12.50.
See today’s analyst top recommended stocks >>
Based on Red Lion Hotels’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $7.25 million. In comparison, last year the company had a net profit of $2.59 million.
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.
Red Lion Hotels Corp. is a hospitality and leisure company, which engages in franchising, management, and ownership of hotel properties. It operates through the Company Operated Hotel and Franchised Hotels segments. The Company Operated Hotel segment comprises guest room rentals; and food and beverage offerings at owned and leased hotels.
