Barclays Raises Price Target for Hilton Worldwide to $268.00

In a recent report published on Friday, Barclays has increased its price target for Hilton Worldwide Holdings Inc. (NYSE: HLT). The new target price has been set at $268.00, rising from the previous estimate of $243.00. Barclays has also assigned an "overweight" rating to the stock, which suggests that they feel it may perform better than the market average. This new price target implies a potential upside of 5.57% based on Hilton's previous closing price.

Several other financial institutions have also provided updates concerning Hilton Worldwide. For instance, on October 24th, Mizuho raised its price target for Hilton shares from $237.00 to $243.00, while also giving the stock an "outperform" rating. Another report from Truist Financial increased their target from $208.00 to $220.00, maintaining a "hold" rating. Similarly, Bank of America adjusted its target price from $230.00 to $265.00 and gave Hilton a "buy" rating.

According to data compiled by MarketBeat, the consensus among analysts shows that Hilton Worldwide currently holds an average rating of "Hold" with a mean price target of $232.65. The distribution of ratings includes eleven analysts advocating for a hold rating and eight recommending a buy.

Current Price Performance of Hilton Worldwide

As of Friday, shares of Hilton Worldwide were down by $2.03, trading at $253.87. The trading volume for the day was 152,829 shares, significantly lower than its average volume of 1,534,288. Over the past 50 days, the stock's moving average price has been $244.57, while the 200-day moving average stands at $225.09. Hilton's stock has fluctuated within a 52-week range of $175.80 to $259.01, and it currently holds a market capitalization of approximately $61.89 billion. Its price-to-earnings (P/E) ratio is 54.48, with a price/earnings to growth (PEG) ratio of 3.23 and a beta of 1.30.

Hilton Worldwide recently announced its earnings results on October 23rd. The company reported earnings of $1.92 per share for the quarter, surpassing the consensus estimate of $1.85 by $0.07. However, the company's revenue came in at $2.87 billion, slightly below analysts' expectations of $2.90 billion. Compared to the same quarter last year, Hilton's revenue has risen by 7.3%. Analysts project an earnings per share of around 7 for the current year.

Stock Buyback Program Announcement

On November 14th, Hilton Worldwide's Board of Directors approved a stock buyback program. Under this initiative, the company is authorized to repurchase up to $3.5 billion worth of shares, which equates to about 5.7% of its current shares outstanding. Such buyback programs often signal that company management believes their stock is undervalued, which may instill confidence among investors.

Insider Trading Activity

A notable insider transaction occurred when Michael W. Duffy sold 14,357 shares on October 24th at an average price of $235.73, totaling approximately $3.38 million. Post-sale, Duffy holds an ownership stake of 22,833 shares in the company valued at around $5.38 million, signifying a substantial 38.60% reduction in his position. This transaction has been duly reported to the Securities and Exchange Commission.

Institutional Investor Movements

Recent changes by institutional investors reflect a variety of adjustments, including Signature Estate & Investment Advisors LLC, which raised its stake in Hilton Worldwide by 2.1% in the third quarter. Other institutions, such as Harbor Capital Advisors Inc., Massmutual Trust Co. FSB ADV, Graypoint LLC, and Meadow Creek Wealth Advisors LLC, each increased their ownership in the stock, showing a general trend of positive sentiment toward Hilton among institutional investors.

About Hilton Worldwide

Hilton Worldwide Holdings Inc. is a prominent hospitality company that focuses on managing, franchising, owning, and leasing hotels and resorts. The company operates through two main segments: Management and Franchise, and Ownership. Hilton operates a range of hotel brands, including luxury options like Waldorf Astoria and Conrad, lifestyle hotels such as Canopy by Hilton and Tapestry Collection, and economy hotels like Hampton by Hilton.

Hilton, Stock, Investment