Wells Fargo & Company Forecasts Strong Price Appreciation for Marriott International (NASDAQ:MAR) Stock

Marriott International (NASDAQ:MAR) had its price objective boosted by investment analysts at Wells Fargo & Company from $262.00 to $285.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 1.88% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets lifted their target price on shares of Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Sanford C. Bernstein raised their price objective on shares of Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. TD Cowen decreased their target price on Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Barclays upped their price target on shares of Marriott International from $249.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Finally, Bank of America upped their target price on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Marriott International presently has an average rating of “Hold” and an average price target of $276.35.

Marriott International Trading Down 0.0 %

Marriott International stock opened at $290.46 on Tuesday. The firm has a market cap of $80.72 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 4.68 and a beta of 1.57. Marriott International has a 12 month low of $204.55 and a 12 month high of $295.45. The stock has a fifty day simple moving average of $283.06 and a two-hundred day simple moving average of $259.10.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same period in the previous year, the business earned $2.11 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts forecast that Marriott International will post 9.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Felitia Lee sold 916 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the sale, the chief accounting officer now directly owns 5,609 shares of the company’s stock, valued at approximately $1,550,776.32. This trade represents a 14.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Benjamin T. Breland sold 500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the completion of the transaction, the executive vice president now directly owns 12,286 shares in the company, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,815 shares of company stock valued at $3,919,739 over the last ninety days. 10.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Marriott International by 4.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,024,187 shares of the company’s stock valued at $254,613,000 after buying an additional 46,563 shares during the period. National Pension Service increased its position in Marriott International by 11.6% during the 3rd quarter. National Pension Service now owns 719,613 shares of the company’s stock valued at $178,896,000 after purchasing an additional 74,832 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Marriott International by 8.4% in the 3rd quarter. Janus Henderson Group PLC now owns 613,052 shares of the company’s stock valued at $152,399,000 after purchasing an additional 47,551 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Marriott International by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock valued at $140,844,000 after purchasing an additional 2,723 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Marriott International by 3.0% during the third quarter. PNC Financial Services Group Inc. now owns 443,103 shares of the company’s stock valued at $110,156,000 after buying an additional 12,702 shares during the period. 70.70% of the stock is currently owned by institutional investors.

About Marriott International

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.