After Nomura and Robert W. Baird gave Extended Stay America (NASDAQ: STAY) a Buy rating last month, the company received another Buy, this time from Deutsche Bank. Analyst Chris Woronka reiterated a Buy rating on Extended Stay America yesterday and set a price target of $20. The company’s shares closed last Monday at $14.05, close to its 52-week low of $12.88.
According to TipRanks.com, Woronka is a 2-star analyst with an average return of 0.0% and a 41.7% success rate. Woronka covers the Financial sector, focusing on stocks such as Braemar Hotels & Resorts Inc, Ashford Hospitality Trust, and Hertz Global Holdings Inc.
Currently, the analyst consensus on Extended Stay America is a Strong Buy with an average price target of $17.88, implying a 25.0% upside from current levels. In a report issued on August 7, Robert W. Baird also maintained a Buy rating on the stock with a $19 price target.
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Based on Extended Stay America’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $53.5 million. In comparison, last year the company had a net profit of $65.06 million.
Based on the recent corporate insider activity of 47 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 STAY in relation to earlier this year.
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Extended Stay America, Inc. is engaged in owning and operating of hotels in North America. It operates through Extended Stay segment which focuses in lodging industry. The company was founded in January 1995 and is headquartered in Charlotte, NC.
