CorePoint Lodging (NYSE:CPLG) Cut to Sell at Zacks Investment Research

CorePoint Lodging (NYSE:CPLG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Corepoint Lodging Inc is a real-estate investment trust. It focused on select-service midscale and upper-midscale lodging. The company owns a diverse portfolio of hotels. Corepoint Lodging Inc is based in Irving, United States. “

A number of other equities research analysts also recently issued reports on CPLG. ValuEngine upgraded CorePoint Lodging from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut CorePoint Lodging from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $13.00 to $11.00 in a research report on Tuesday, July 9th.

Shares of CorePoint Lodging stock traded up $0.50 during trading hours on Friday, reaching $9.42. 609,823 shares of the stock traded hands, compared to its average volume of 490,737. The company has a 50 day moving average price of $11.79 and a 200 day moving average price of $12.56. The firm has a market capitalization of $632.73 million, a price-to-earnings ratio of 4.57 and a beta of 0.84. CorePoint Lodging has a one year low of $7.25 and a one year high of $22.86.

CorePoint Lodging (NYSE:CPLG) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.67). The firm had revenue of $219.00 million for the quarter, compared to the consensus estimate of $226.19 million. CorePoint Lodging had a negative net margin of 28.49% and a negative return on equity of 6.78%. On average, sell-side analysts expect that CorePoint Lodging will post 1.97 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in CorePoint Lodging by 41.4% in the fourth quarter. Geode Capital Management LLC now owns 548,573 shares of the company’s stock valued at $6,719,000 after buying an additional 160,661 shares during the period. Bank of America Corp DE lifted its holdings in CorePoint Lodging by 131.7% in the fourth quarter. Bank of America Corp DE now owns 22,759 shares of the company’s stock valued at $278,000 after buying an additional 12,935 shares during the period. Jane Street Group LLC acquired a new position in CorePoint Lodging in the fourth quarter valued at approximately $168,000. Legal & General Group Plc lifted its holdings in CorePoint Lodging by 6.8% in the fourth quarter. Legal & General Group Plc now owns 14,483 shares of the company’s stock valued at $177,000 after buying an additional 916 shares during the period. Finally, Norges Bank bought a new stake in CorePoint Lodging in the fourth quarter valued at approximately $4,201,000. 93.05% of the stock is currently owned by hedge funds and other institutional investors.

About CorePoint Lodging

CorePoint Lodging Inc, a real estate investment trust company, operates midscale and upper-midscale select-service hotels primarily under the La Quinta brand. As of March 21, 2019, it had a portfolio of 313 hotels and approximately 40,000 rooms across 41 states in the United States. CorePoint Lodging Inc is based in Irving, Texas.

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