Summit Hotel Properties Inc (NYSE:INN) finished Wednesday with an addition of $0.16 to close at $5.65, an upside of 2.91 percent. An average of 886,280 shares of common stock have been traded in the last five days. There was a gain of $0.03 in the past week, and it reached a new high 16 times over the past 12 months. The last 20 days have seen an average of 859,145 shares traded, while the 50-day average volume stands at 770,734.
INN stock has decreased by -2.08% in the last month. The company shares reached their 1-month lowest point of $5.40 on 09/25/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $5.40 and a high of $8.81 in 52 weeks. It has reached a new high 13 times so far this year and lost -21.75% or -$1.57 in price. In spite of this, the price is down -35.83% from the 52-week high.
Insider Transactions
INN stock investors should be aware that Summit Hotel Properties Inc (INN) stock had its last reported insider trading activity 309 days ago on Mar 16.
Valuation Metrics
Summit Hotel Properties Inc (INN) stock’s beta is 1.97. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.84, the price-to-book (PB) ratio at 0.64, and the price-to-cash flow ratio at 8.98.
Financial Health
Further, the company has a long term debt to equity ratio of 1.56 and a total debt to equity ratio of 1.56 for the recent quarter. Its gross profit as reported stood at $67.78 million compared to revenue of $675.7 million.
Earnings Surprise
For the recent quarter, Summit Hotel Properties Inc had $1.45 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 -$0.75 million in the quarter, while revenues of -$5.23 million were grew 1158.67%. At the end of the recent quarter, Summit Hotel Properties Inc’s stock balance sheet showed total debt was $1.48 billion. Shareholders own equity worth $107.58 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 27 September was 49.23%, suggesting the stock is Neutral, with historical volatility in this time frame at 31.59%.
As of today, INN’s price is $5.56 +0.53% or $0.03 from its 5-day moving average. INN is currently trading -3.91% lower than its 20-day SMA and -14.52% lower than its 100-day SMA. However, the stock’s current price level is -11.58% below the SMA50 and -28.93% below the SMA200.
The stochastic %K and %D were 35.27% and 29.05%, respectively, and the average true range (ATR) was 0.16. With the 14-day stochastic at 46.30% and the average true range at 0.16, the RSI (14) stands at 47.24%. The stock has reached -0.02 on the 9-day MACD Oscillator while the 14-day reading was at -0.08.
Analyst Ratings
Robert W. Baird downgraded Summit Hotel Properties Inc (NYSE: INN) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for Summit Hotel Properties Inc (INN) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell INN, while 2 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 1 others rate it as a “buy”.
What is INN’s price target for the next 12 months?
Analysts predict a range of price targets between $6.00 and $10.00, with a median target of $8.00. Taking a look at these predictions, the average price target given by analysts for Summit Hotel Properties Inc (INN) stock is $8.00.
