Ashford (NYSEAMERICAN:AINC) Upgraded to “Buy” at Zacks Investment Research

Ashford (NYSEAMERICAN:AINC) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Monday, Zacks.com reports. The brokerage presently has a $15.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 5.63% from the company’s previous close.

According to Zacks, “Ashford Inc. is a provider of asset management and other services to companies within the hospitality industry. It is focused on managing real estate, hospitality, and securities platforms. The Company serves as the advisor to two real estate investment trusts, namely Ashford Hospitality Trust (Ashford Trust) and Ashford Hospitality Prime (Ashford Prime). Ashford Trust is focused on investing in the hospitality industry primarily within the United States. Ashford Prime invests in high RevPAR full-service and urban select-service hotels and resorts. Ashford Inc. is based in Dallas, Texas. “

Separately, B. Riley downgraded Ashford from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $10.00 in a research report on Monday, April 6th.

Shares of AINC stock opened at $14.20 on Monday. Ashford has a 1 year low of $4.96 and a 1 year high of $41.47.

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. acquired a new position in shares of Ashford in the fourth quarter worth about $436,000. LSV Asset Management acquired a new position in shares of Ashford in the fourth quarter worth about $263,000. Renaissance Technologies LLC lifted its stake in shares of Ashford by 67.5% in the fourth quarter. Renaissance Technologies LLC now owns 60,252 shares of the financial services provider’s stock worth $1,422,000 after acquiring an additional 24,277 shares in the last quarter. Virtus ETF Advisers LLC acquired a new position in shares of Ashford in the fourth quarter worth about $41,000. Finally, Oxford Asset Management LLP acquired a new position in shares of Ashford in the fourth quarter worth about $892,000.

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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