Robert W. Baird Thinks Summit Hotel Properties’ Stock is Going to Recover


In a report issued on November 16, Michael Bellisario from Robert W. Baird reiterated a Buy rating on Summit Hotel Properties (INN), with a price target of $14. The company’s shares closed yesterday at $10.87, close to its 52-week low of $10.75.

According to TipRanks.com, Bellisario is a 3-star analyst with an average return of 2.3% and a 47.7% success rate. Bellisario covers the Financial sector, focusing on stocks such as Braemar Hotels & Resorts Inc, Ashford Hospitality Trust, and Hersha Hospitality Trust.

Currently, the analyst consensus on Summit Hotel Properties is a Strong Buy with an average price target of $13.90, which is a 27.9% 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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Summit Hotel Properties’ market cap is currently $1.14B and has a P/E ratio of 15.36. The company has a Price to Book ratio of 0.94.

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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