Marriott International (NASDAQ:MAR) Given New $283.00 Price Target at TD Cowen

Marriott International (NASDAQ:MAR) had its target price cut by TD Cowen from $295.00 to $283.00 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently issued reports on MAR. Robert W. Baird upped their target price on shares of Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a research report on Tuesday. Truist Financial reduced their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. The Goldman Sachs Group initiated coverage on shares of Marriott International in a research report on Wednesday, September 18th. They set a “buy” rating and a $267.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Bank of America boosted their target price on Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Marriott International currently has a consensus rating of “Hold” and an average price target of $259.00.

Marriott International Price Performance

Shares of MAR opened at $259.66 on Tuesday. The business’s 50 day simple moving average is $248.41 and its 200-day simple moving average is $239.43. Marriott International has a one year low of $189.34 and a one year high of $266.58. The company has a market capitalization of $73.10 billion, a P/E ratio of 25.97, a PEG 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 (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.05). Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter last year, the company earned $2.11 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that Marriott International will post 9.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Marriott International

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Marriott International by 1.8% in the 1st quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock valued at $2,678,750,000 after purchasing an additional 192,652 shares during the last quarter. Capital International Investors lifted its position in shares of Marriott International by 4.7% in the first quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock valued at $831,836,000 after buying an additional 149,378 shares during the last quarter. National Pension Service grew its stake in shares of Marriott International by 11.6% in the third quarter. National Pension Service now owns 719,613 shares of the company’s stock valued at $178,896,000 after acquiring an additional 74,832 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Marriott International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 679,757 shares of the company’s stock worth $164,355,000 after buying an additional 33,149 shares in the last quarter. Finally, First Pacific Advisors LP increased its stake in Marriott International by 2.1% during the 2nd quarter. First Pacific Advisors LP now owns 613,205 shares of the company’s stock worth $148,255,000 after acquiring an additional 12,499 shares during the period. 70.70% of the stock is owned by institutional investors.

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.