Bank of America Increases Marriott International (NASDAQ:MAR) Price Target to $300.00

Marriott International (NASDAQ:MAR) had its price objective lifted by equities researchers at Bank of America from $275.00 to $300.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 12.99% from the stock’s previous close.

Other analysts have also issued research reports about the company. Evercore ISI increased their price objective on Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a research note on Monday. Macquarie reissued a “neutral” rating and set a $245.00 price objective on shares of Marriott International in a research note on Friday, August 2nd. UBS Group dropped their price objective on Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Truist Financial dropped their price target on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. raised their price target on Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $255.16.

Marriott International Trading Up 0.2 %

MAR stock opened at $265.50 on Monday. The company’s 50 day moving average is $240.93 and its 200 day moving average is $238.52. The stock has a market cap of $75.83 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 6.15 and a beta of 1.59. Marriott International has a 1-year low of $180.75 and a 1-year high of $266.58.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The business had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same period last year, the business earned $2.26 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that Marriott International will post 9.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Marriott International

Institutional investors and hedge funds have recently modified their holdings of the stock. Park Avenue Securities LLC boosted its position in Marriott International by 26.2% in the first quarter. Park Avenue Securities LLC now owns 3,252 shares of the company’s stock worth $820,000 after purchasing an additional 676 shares during the last quarter. Parkside Investments LLC purchased a new position in shares of Marriott International during the 1st quarter valued at about $505,000. Brookstone Capital Management lifted its position in shares of Marriott International by 131.8% during the 1st quarter. Brookstone Capital Management now owns 2,633 shares of the company’s stock valued at $664,000 after buying an additional 1,497 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Marriott International by 113.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 38,998 shares of the company’s stock valued at $9,839,000 after buying an additional 20,696 shares in the last quarter. Finally, Kathmere Capital Management LLC lifted its position in shares of Marriott International by 1.2% during the 1st quarter. Kathmere Capital Management LLC now owns 3,599 shares of the company’s stock valued at $908,000 after buying an additional 42 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors.

Marriott International Company Profile

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.