The stock of Extended Stay America Inc (NYSE:STAY) gapped down by $0.03 today and has $13.21 target or 7.00% below today’s $14.20 share price. The 8 months technical chart setup indicates high risk for the $2.86B company. The gap down was reported on Oct, 1 by Barchart.com. If the $13.21 price target is reached, the company will be worth $200.20 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.27% or $0.33 on September 30, hitting $14.2. About 4.97M shares traded hands or 932.68% up from the average. Extended Stay America Inc (NYSE:STAY) has declined 3.92% since February 29, 2016 and is downtrending. It has underperformed by 14.35% the S&P500.
Extended Stay America Inc (NYSE:STAY) Ratings Coverage
Out of 7 analysts covering Extended Stay America (NYSE:STAY), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. Extended Stay America has been the topic of 11 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The rating was upgraded by Robert W. Baird on Monday, August 3 to “Outperform”. M Partners downgraded the shares of STAY in a report on Thursday, January 14 to “Neutral” rating. The stock has “Underperform” rating given by Bank of America on Tuesday, July 21. Deutsche Bank maintained Extended Stay America Inc (NYSE:STAY) on Wednesday, October 28 with “Buy” rating. On Wednesday, August 17 the stock rating was maintained by Citigroup with “Neutral”. On Friday, July 31 the stock rating was maintained by Deutsche Bank with “Buy”. On Monday, September 26 the stock rating was initiated by Goldman Sachs with “Neutral”.
According to Zacks Investment Research, “Extended Stay America, Inc. owns and operates hotels under the core brand, Extended Stay America(R). It is the owner/operator of company-branded hotels in North America. The Company offers guest rooms, dining services, on-site laundry, local phone calls, personalized voicemail, pools, fitness centers, and pet friendly accommodations. Extended Stay America, Inc. is headquartered in Charlotte, North Carolina.”
Insitutional Activity: The institutional sentiment increased to 1.66 in Q2 2016. Its up 0.42, from 1.24 in 2016Q1. The ratio improved, as 14 funds sold all Extended Stay America Inc shares owned while 30 reduced positions. 18 funds bought stakes while 55 increased positions. They now own 197.88 million shares or 0.07% more from 197.73 million shares in 2016Q1.
Fmr Lc has 9.81 million shares for 0.02% of their US portfolio. Blackrock Fund Advsr reported 762,164 shares or 0% of all its holdings. Teachers Advisors Inc holds 0.04% of its portfolio in Extended Stay America Inc (NYSE:STAY) for 1.46M shares. Croft accumulated 15,000 shares or 0.05% of the stock. Blackrock Advsrs Limited Company accumulated 42,631 shares or 0% of the stock. West Oak Ltd has 0% invested in the company for 2,055 shares. Blackrock last reported 174,314 shares in the company. Omers Administration owns 77,900 shares or 0.02% of their US portfolio. Natl Bank Of Montreal Can holds 329 shares or 0% of its portfolio. Schwab Charles Inv Mngmt accumulated 0% or 137,571 shares. Parametric Associates Ltd Llc last reported 0% of its portfolio in the stock. The Connecticut-based Forum Ltd has invested 1.62% in Extended Stay America Inc (NYSE:STAY). Fuller & Thaler Asset Mngmt Incorporated has 8,310 shares for 0% of their US portfolio. Centerbridge Partners Ltd Partnership reported 42.66M shares or 30.56% of all its holdings. D E Shaw And has invested 0.01% of its portfolio in Extended Stay America Inc (NYSE:STAY).
More notable recent Extended Stay America Inc (NYSE:STAY) news were published by: Streetinsider.com which released: “Extended Stay America (STAY) Prices 13M Common Paired Shares Secondary …” on September 30, 2016, also Forbes.com with their article: “Ex-Dividend Reminder: Coty, Gildan Activewear and Extended Stay America” published on August 05, 2016, Businesswire.com published: “Extended Stay America, Inc. Announces Launch of New Credit Facilities” on August 05, 2016. More interesting news about Extended Stay America Inc (NYSE:STAY) were released by: Prnewswire.com and their article: “Extended Stay America Announces Resignation Of Chief Marketing Officer” published on September 08, 2016 as well as Prnewswire.com‘s news article titled: “Extended Stay America® Named No. 1 Midprice Extended Stay Hotel Brand In …” with publication date: September 07, 2016.
STAY Company Profile
Extended Stay America, Inc. (Extended Stay), incorporated on July 8, 2013, is an integrated owner/operator of company-branded hotels in North America. The Firm operates in hotel activities segment. The Company’s business operates in the extended stay lodging industry. The Firm owns and operates approximately 630 hotels comprising over 69,400 rooms located in approximately 40 states across the United States and in Canada. It owns and operates its hotels under its core brand, Extended Stay America, which serves the mid-price extended stay segment. In addition, the Company owns and operates over three Extended Stay Canada hotels. The Firm operates its hotels owned by ESH Hospitality, Inc. (ESH REIT). The hotels are operated by the Operating Lessees, subsidiaries of the Company and are managed by ESA Management LLC (ESA Management), a subsidiary of the Company. ESH Strategies, a subsidiary of the Company, owns the brands related to its business.
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