Truist Financial Forecasts Strong Price Appreciation for Marriott International (NASDAQ:MAR) Stock

Marriott International (NASDAQ:MAR) had its price objective upped by equities researchers at Truist Financial from $277.00 to $308.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential upside of 6.86% from the stock’s previous close.

Several other research firms have also recently weighed in on MAR. Evercore ISI raised Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price objective for the company in a research report on Tuesday, February 4th. Stifel Nicolaus upped their price target on Marriott International from $252.00 to $283.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Barclays lowered their price objective on shares of Marriott International from $287.00 to $283.00 and set an “equal weight” rating on the stock in a research note on Wednesday. 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 note on Tuesday, November 5th. Finally, Macquarie restated a “neutral” rating and set a $245.00 price objective on shares of Marriott International in a report on Tuesday, November 5th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $284.45.

Marriott International Stock Performance

Shares of MAR stock opened at $288.24 on Wednesday. The company has a market capitalization of $80.10 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 4.88 and a beta of 1.57. The stock’s 50 day simple moving average is $284.38 and its 200 day simple moving average is $262.07. Marriott International has a twelve month low of $204.55 and a twelve month high of $307.52.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. On average, analysts forecast that Marriott International will post 9.26 EPS for the current fiscal year.

Insider Activity at Marriott International

In related news, insider William P. Brown sold 1,707 shares of the firm’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 sale, the insider now directly owns 23,077 shares of the company’s stock, valued at $6,560,791.10. This trade represents a 6.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.32% of the stock is currently owned by insiders.

Institutional Trading of Marriott International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC grew its stake in shares of Marriott International by 126.0% during the third quarter. Exchange Traded Concepts LLC now owns 972 shares of the company’s stock valued at $242,000 after purchasing an additional 542 shares during the last quarter. Wesbanco Bank Inc. boosted its position in Marriott International by 276.3% in the 3rd quarter. Wesbanco Bank Inc. now owns 18,643 shares of the company’s stock valued at $4,635,000 after buying an additional 13,689 shares during the last quarter. Creative Planning raised its position in shares of Marriott International by 4.1% during the third quarter. Creative Planning now owns 97,322 shares of the company’s stock worth $24,194,000 after acquiring an additional 3,840 shares during the last quarter. Occidental Asset Management LLC acquired a new position in shares of Marriott International during the third quarter valued at $201,000. Finally, Swedbank AB boosted its holdings in Marriott International by 6.1% in the third quarter. Swedbank AB now owns 63,386 shares of the company’s stock valued at $15,758,000 after acquiring an additional 3,635 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.

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.