In a report released today, Bryan Maher from B.Riley FBR maintained a Buy rating on Ashford Inc (AINC), with a price target of $74. The company’s shares closed yesterday at $32.85, close to its 52-week low of $25.77.
Maher observed:
“Ashford Inc. (AINC) reported 2Q19 results after the close that were mixed relative to our/ consensus expectations. Adjusted EBITDA was $9.6M, handily above our $8.2M estimate and the consensus estimate of $8.6M. Adjusted EPS was $2.04, below our $2.38 estimate and the consensus estimate of $2.23. Importantly, with many moving parts related to Program (ERFP) with Ashford Hospitality Trust (AHT) and Braemar Hotels & Resorts (BHR), it has become increasingly difficult to nail an adjusted EPS estimate as the funding of the FF&E related to ERFP can be lumpy and, as such, so can be the timing of the tax benefits that Ashford Inc. receives from these investments. It doesn’t help that there is only ~4.2M AINC shares.”
According to TipRanks.com, Maher is a 4-star analyst with an average return of 8.4% and a 52.9% success rate. Maher covers the Financial sector, focusing on stocks such as Industrial Logistics Properties Trust, Senior Housing Properties Trust, and Office Properties Income Trust.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ashford Inc with a $74 average price target.
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The company has a one-year high of $95.58 and a one-year low of $25.77. Currently, Ashford Inc has an average volume of 12.87K.
Based on the recent corporate insider activity of 9 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 AINC in relation to earlier this year.
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Ashford, Inc. engages in the provision of asset management, advisory services and other products and services primarily to clients in the hospitality industry. Its segments include REIT Advisory and Hospitality Products and Services. The REIT Advisory segment provides asset management and advisory services.
