Marriott International (NASDAQ:MAR) Hits New 1-Year High Following Analyst Upgrade

Marriott International, Inc. (NASDAQ:MAR) hit a new 52-week high during trading on Wednesday after Mizuho raised their price target on the stock from $233.00 to $246.00. Mizuho currently has a neutral rating on the stock. Marriott International traded as high as $274.63 and last traded at $272.87, with a volume of 151240 shares trading hands. The stock had previously closed at $259.66.

Several other equities analysts also recently weighed in on MAR. TD Cowen dropped their target price on shares of Marriott International from $295.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday. Sanford C. Bernstein lifted their price objective on Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday. 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 report on Tuesday, August 6th. Robert W. Baird increased their price objective on Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, The Goldman Sachs Group began coverage on shares of Marriott International in a research note on Wednesday, September 18th. They set a “buy” rating and a $267.00 price target on the stock. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $259.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MAR. Bangor Savings Bank boosted its holdings in Marriott International by 131.1% in the second quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after purchasing an additional 59 shares during the period. Hantz Financial Services Inc. bought a new position in Marriott International in the second quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new position in Marriott International during the 2nd quarter valued at approximately $28,000. Silvant Capital Management LLC bought a new stake in Marriott International in the third quarter valued at $31,000. Finally, Unique Wealth Strategies LLC bought a new stake in Marriott International in the 2nd quarter valued at about $35,000. 70.70% of the stock is currently owned by institutional investors.

Marriott International Stock Performance

The business’s 50 day simple moving average is $248.41 and its 200-day simple moving average is $239.43. The stock has a market capitalization of $77.70 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 6.24 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.27 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.11 earnings per share. As a group, sell-side analysts expect that Marriott International, Inc. will post 9.37 EPS for the current year.

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.