Technicals Say Summit Hotel Properties Inc. (INN) Is A Hold

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RTX Stock
RTX Stock

Summit Hotel Properties Inc. (NYSE:INN) finished Wednesday with a subtraction of -$0.24 to close at $7.50, a downside of -3.10 percent. An average of 1,165,860 shares of common stock have been traded in the last five days. There was a fall of -$0.61 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 700,180 shares traded, while the 50-day average volume stands at 629,090.

INN stock has decreased by -11.03% in the last month. The company shares reached their 1-month lowest point of $7.29 on 09/16/22. With the stock rallying to its 52-week high on 02/18/22, shares of the company touched a low of $6.70 and a high of $10.94 in 52 weeks. It has reached a new high 7 times so far this year and lost -23.16% or -$2.26 in price. In spite of this, the price is down -31.44% from the 52-week high.


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Insider Transactions

321 days have passed since Summit Hotel Properties Inc. (INN) last reported insider trading activity. Hansen Daniel P, who is Executive Chairman, most recently acquired $193,498 shares at $10.57 per share on Nov 05. In this transaction, the insider spent $2,046,241. Executive Chairman, Hansen Daniel P, disposed of 6,502 shares at a price of $10.57 on Nov 04. The insider now owns more than $68,739 worth of shares.

Valuation Metrics

Summit Hotel Properties Inc. (INN) stock’s beta is 1.95. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.42, the price-to-book (PB) ratio at 0.82.

The company’s most recent quarterly dividend payment was $0.04 a share, representing a down of -77.78% from $0.18 last year. Its latest decrease dividend $0.14 reported on Thursday August 4 2022.

Financial Health

Further, the company has a long term debt to equity ratio of 1.58 and a total debt to equity ratio of 1.58 for the quarter ending March 30. Its gross profit as reported stood at -$33.27 million compared to revenue of $361.93 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Summit Hotel Properties Inc.’s return on assets was -1.10%.

Earnings Surprise

For the three-month period that ended March 30, Summit Hotel Properties Inc. had $1.52 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $7.94 million in the quarter, while revenues of -$8.41 million were grew 335.39%. The analyst consensus anticipated Summit Hotel Properties Inc.’s latest quarter earnings to come in at -$0.11 per share, but it turned out to be -$0.12, a -9.10% surprise. For the quarter, EBITDA amounted to $82.57 million. At the end of the quarter ending March 30, Summit Hotel Properties Inc.’s stock balance sheet showed total debt was $1.51 billion. Shareholders own equity worth $106.9 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Summit Hotel Properties Inc. (INN) price momentum. RSI 9-day as of the close on 21 September was 37.31%, suggesting the stock is Neutral, with historical volatility in this time frame at 56.11%.

As of today, INN’s price is $7.68 -7.52% or -$0.61 from its 5-day moving average. INN is currently trading -11.24% lower than its 20-day SMA and -25.74% lower than its 100-day SMA. However, the stock’s current price level is +1.76% above the SMA50 and -14.97% below the SMA200.

The stochastic %K and %D were 38.89% and 41.36%, respectively, and the average true range (ATR) was 0.33. With the 14-day stochastic at 20.59% and the average true range at 0.31, the RSI (14) stands at 40.29%. The stock has reached -0.18 on the 9-day MACD Oscillator while the 14-day reading was at -0.12.

Analyst Ratings

CapitalOne downgraded Summit Hotel Properties Inc. (NYSE: INN) to a an Equal weight rating in its most recent analyst report. Previously, the stock was rated as an Overweight.

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