Wells Fargo Gives La Quinta (NYSE:LQ) Shareholders a Gift With Today’s Upgrade

December 7, 2017 - By Vivian Park

  Wells Fargo Gives La Quinta (NYSE:LQ) Shareholders a Gift With Today’s Upgrade

La Quinta (NYSE:LQ) Stock Upgrade

In a note issued to investors and clients on 6 October, Wells Fargo announced that they have decided to upgrade La Quinta (NYSE:LQ) shares to a “Buy”.

La Quinta Holdings Inc. (NYSE:LQ) Ratings Coverage

Among 11 analysts covering La Quinta Holdings (NYSE:LQ), 3 have Buy rating, 1 Sell and 7 Hold. Therefore 27% are positive. La Quinta Holdings has $23 highest and $12 lowest target. $17.57’s average target is -4.15% below currents $18.33 stock price. La Quinta Holdings had 31 analyst reports since August 20, 2015 according to SRatingsIntel. The rating was maintained by Stifel Nicolaus on Monday, December 14 with “Buy”. The firm earned “Market Perform” rating on Tuesday, October 27 by Raymond James. Stifel Nicolaus maintained La Quinta Holdings Inc. (NYSE:LQ) on Monday, August 14 with “Hold” rating. The stock of La Quinta Holdings Inc. (NYSE:LQ) earned “Overweight” rating by Morgan Stanley on Thursday, June 15. The firm earned “Market Perform” rating on Thursday, October 29 by Wells Fargo. Wells Fargo upgraded La Quinta Holdings Inc. (NYSE:LQ) on Tuesday, November 1 to “Market Perform” rating. The firm has “Hold” rating given on Thursday, February 25 by Stifel Nicolaus. Stifel Nicolaus maintained La Quinta Holdings Inc. (NYSE:LQ) on Tuesday, January 10 with “Hold” rating. The company was downgraded on Tuesday, June 14 by Wells Fargo. The stock has “Buy” rating by Stifel Nicolaus on Friday, September 18.

The stock increased 2.80% or $0.5 during the last trading session, reaching $18.33. About 1.59 million shares traded or 5.04% up from the average. La Quinta Holdings Inc. (NYSE:LQ) has risen 19.42% since December 7, 2016 and is uptrending. It has outperformed by 2.72% the S&P500.

La Quinta Holdings Inc. owns, operates, and franchises select-service hotels under the La Quinta brand. The company has market cap of $2.15 billion. As of December 31, 2016, the firm had 888 hotels with approximately 87,200 rooms under the La Quinta Inn, La Quinta Inn & Suites, and LQ Hotel brands in 48 states of the United States, as well as in Canada, Mexico, Honduras, and Colombia. It has a 70.5 P/E ratio. It serves the upper-midscale and midscale divisions.

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