Ashford (AINC) Rating Increased to Buy at B. Riley

Ashford (NYSEAMERICAN:AINC) was upgraded by stock analysts at B. Riley from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has a $91.00 target price on the financial services provider’s stock, down from their prior target price of $95.00. B. Riley’s price objective points to a potential upside of 28.73% from the company’s current price.

AINC has been the topic of a number of other research reports. TheStreet raised Ashford from a “d” rating to a “c+” rating in a report on Thursday, August 30th. Zacks Investment Research raised Ashford from a “strong sell” rating to a “hold” rating in a report on Monday, July 9th.

Shares of AINC stock opened at $70.69 on Thursday. Ashford has a fifty-two week low of $53.00 and a fifty-two week high of $111.00.

Ashford (NYSEAMERICAN:AINC) last issued its quarterly earnings data on Thursday, August 9th. The financial services provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.46. The business had revenue of $54.81 million for the quarter, compared to analyst estimates of $42.08 million. Ashford had a negative return on equity of 23.28% and a negative net margin of 11.73%.

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in shares of Ashford by 27.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,382 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 942 shares during the period. Royce & Associates LP lifted its position in shares of Ashford by 78.6% in the 2nd quarter. Royce & Associates LP now owns 10,000 shares of the financial services provider’s stock worth $648,000 after acquiring an additional 4,400 shares during the period. Glacier Peak Capital LLC bought a new stake in shares of Ashford in the 1st quarter worth approximately $969,000. Northern Trust Corp lifted its position in shares of Ashford by 141.1% in the 2nd quarter. Northern Trust Corp now owns 11,709 shares of the financial services provider’s stock worth $759,000 after acquiring an additional 6,853 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Ashford by 442.9% in the 1st quarter. Millennium Management LLC now owns 12,356 shares of the financial services provider’s stock worth $1,183,000 after acquiring an additional 10,080 shares during the period.

Ashford Company Profile

Ashford, Inc is an asset management firm. The firm provides investment management and related services to the real estate and hospitality sectors. Ashford, Inc was formed on April 2, 2014 and is based in Dallas, Texas.

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