The stock of Summit Hotel Properties Inc (NYSE: INN) has increased by 2.80 when compared to last closing price of 6.42.Despite this, the company has seen a gain of 5.43% in its stock price over the last five trading days. PRNewsWire reported 2024-03-26 that AUSTIN, Texas, March 26, 2024 /PRNewswire/ — Summit Hotel Properties, Inc. (NYSE: INN) (the “Company”) today announced that it will report financial results for the first quarter of 2024 on Wednesday, May 1, 2024, after the market closes. The Company will conduct its quarterly conference call on Thursday, May 2, 2024, at 9:00 AM ET.
Is It Worth Investing in Summit Hotel Properties Inc (NYSE: INN) Right Now?
Moreover, the 36-month beta value for INN is 1.95. Analysts have varying opinions on the stock, with 5 analysts rating it as a “buy,” 2 as “overweight,” 0 as “hold,” and 1 as “sell.”
The public float for INN is 104.43M and currently, short sellers hold a 6.05% of that float. On April 12, 2024, INN’s average trading volume was 793.77K shares.
INN’s Market Performance
INN’s stock has seen a 5.43% increase for the week, with a 3.29% rise in the past month and a -0.15% fall in the past quarter. The volatility ratio for the week is 2.48%, and the volatility levels for the past 30 days are at 2.28% for Summit Hotel Properties Inc. The simple moving average for the past 20 days is 3.37% for INN’s stock, with a 6.02% simple moving average for the past 200 days.
Analysts’ Opinion of INN
Robert W. Baird, on the other hand, stated in their research note that they expect to see INN reach a price target of $8. The rating they have provided for INN stocks is “Neutral” according to the report published on January 12th, 2023.
CapitalOne gave a rating of “Equal Weight” to INN, setting the target price at $10 in the report published on September 15th of the previous year.
INN Trading at 2.18% from the 50-Day Moving Average
After a stumble in the market that brought INN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -9.09% of loss for the given period.
Volatility was left at 2.28%, however, over the last 30 days, the volatility rate increased by 2.48%, as shares surge +3.94% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -1.05% lower at present.
During the last 5 trading sessions, INN rose by +5.43%, which changed the moving average for the period of 200-days by +8.55% in comparison to the 20-day moving average, which settled at $6.40. In addition, Summit Hotel Properties Inc saw -1.79% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for INN
Current profitability levels for the company are sitting at:
- 0.1 for the present operating margin
- 0.32 for the gross margin
The net margin for Summit Hotel Properties Inc stands at -0.01. The total capital return value is set at 0.03. Equity return is now at value -1.08, with -0.34 for asset returns.
Based on Summit Hotel Properties Inc (INN), the company’s capital structure generated 0.61 points at debt to capital in total, while cash flow to debt ratio is standing at 0.11. The debt to equity ratio resting at 1.57. The interest coverage ratio of the stock is 0.83.
Currently, EBITDA for the company is 226.71 million with net debt to EBITDA at 6.16. When we switch over and look at the enterprise to sales, we see a ratio of 2.88. The receivables turnover for the company is 34.48for trailing twelve months and the total asset turnover is 0.25.
Conclusion
To wrap up, the performance of Summit Hotel Properties Inc (INN) has been mixed in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
