Truist Financial Boosts Marriott International (NASDAQ:MAR) Price Target to $277.00

Marriott International (NASDAQ:MAR) had its target price upped by Truist Financial from $254.00 to $277.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price target would indicate a potential downside of 5.29% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Macquarie reissued a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a research report on Tuesday, November 5th. TD Cowen lowered their price target on Marriott International from $295.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Bank of America boosted their price objective on Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Morgan Stanley dropped their target price on Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Sanford C. Bernstein upped their price target on Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $261.35.

Marriott International Stock Up 1.0 %

Shares of NASDAQ MAR opened at $292.48 on Wednesday. The stock has a market capitalization of $81.28 billion, a PE ratio of 30.59, a P/E/G ratio of 5.61 and a beta of 1.58. The firm has a fifty day moving average of $270.06 and a 200-day moving average of $246.49. Marriott International has a 52-week low of $204.30 and a 52-week high of $294.65.

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

Insider Activity

In related news, insider William P. Brown sold 1,707 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $284.30, for a total transaction of $485,300.10. Following the completion of the transaction, the insider now directly owns 23,077 shares in the company, valued at $6,560,791.10. This represents a 6.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Benjamin T. Breland sold 500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total transaction of $137,245.00. Following the transaction, the executive vice president now directly owns 12,286 shares of the company’s stock, valued at approximately $3,372,384.14. This trade represents a 3.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,815 shares of company stock valued at $3,919,739. Company insiders own 12.32% of the company’s stock.

Hedge Funds Weigh In On Marriott International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mather Group LLC. lifted its position in Marriott International by 104.4% in the second quarter. Mather Group LLC. now owns 1,425 shares of the company’s stock worth $360,000 after purchasing an additional 728 shares during the period. Park Avenue Securities LLC grew its holdings in Marriott International by 1.4% during the second quarter. Park Avenue Securities LLC now owns 3,298 shares of the company’s stock worth $797,000 after acquiring an additional 46 shares during the period. NBC Securities Inc. raised its position in Marriott International by 9.6% in the second quarter. NBC Securities Inc. now owns 3,609 shares of the company’s stock worth $872,000 after acquiring an additional 316 shares in the last quarter. BDF Gestion bought a new position in shares of Marriott International during the 2nd quarter valued at about $3,013,000. Finally, Capital Investment Advisors LLC grew its stake in shares of Marriott International by 2.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 6,375 shares of the company’s stock worth $1,541,000 after purchasing an additional 180 shares during the last quarter. 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.