Ashford Receives 'Buy' Rating from StockNews.com Amidst Oppenheimer Price Target Adjustment

Analytical firm StockNews.com has initiated coverage on Ashford Inc, a financial services provider trading under the ticker AINC on the NYSE American exchange. In their recent report released on Tuesday, the research firm endorsed the stock with a 'buy' rating, suggesting a positive outlook for potential investors.

Oppenheimer Adjusts Ashford's Price Target

In a separate analysis, investment firm Oppenheimer revised its price target for Ashford's shares, reducing it from $17.00 to $14.00 while maintaining an 'outperform' rating. This adjustment occurred on Friday, November 24th, reflecting a more conservative valuation of Ashford's market position. Despite the target reduction, the 'outperform' rating implies that Oppenheimer still sees the company's performance potentially surpassing the general market.

Ashford's Market Performance

On the day of the report, Ashford's stock opened at $2.59 with a market capitalization of $8.31 million and a notably low price-to-earnings ratio of -0.20. The company's stock showed a degree of volatility, having a beta of 1.67. Over the past fifty days, the average stock price was noted at $9.58, and over the past twelve months, Ashford has experienced a low of $1.92 and a high of $13.77 in its trading range.

Investor Confidence in Ashford

Vanguard Group Inc, a significant institutional investor, has recently increased its holdings in Ashford by 5.6% during the 1st quarter as reported in their latest 13F filing with the SEC. Purchasing an additional 4,314 shares, Vanguard now owns a total of 81,717 shares. This acquisition brings their investment to an approximate valuation of $1,400,000, amounting to roughly a 2.71% ownership in the company. Overall, institutional investors hold 12.95% of Ashford's total shares.

About Ashford Inc

Established on April 2, 2014, and headquartered in Dallas, Texas, Ashford Inc is an independent asset management company providing specialized services to the real estate and hospitality sectors. Since November 5, 2019, it has been operating independently from Ashford Hospitality Trust, Inc.

Ashford, StockNews, Oppenheimer