Chesapeake Lodging Trust (CHSP) – Is The Recent Reaction Justified?

The stock of Chesapeake Lodging Trust (NYSE:CHSP) has been Downgraded to Neutral from Outperform by Robert W. Baird in its latest research note that was published on May 08. CHSP was given a price target of$31 by Robert W. Baird, with other Wall Street analysts also giving their reports regarding the stock. Robert W. Baird analysts bumped their recommendation on CHSP stock from Neutral to Outperform in a separate flash note to investors on January 08. Analysts at JP Morgan downgraded the stock to a Underweight call from its previous Neutral stance, in a research note that dated back to November 16.

Chesapeake Lodging Trust, which has current market capitalization of above $2 Billion, published its last quarter earnings on June 30, 2019.

CHSP surged by $0.16 during the normal trading session on Thursday and reaching a high of $27.21 during the day while it closed the day at $26.88. The Chesapeake stock had a low trading volume of 2.30 million shares on that day, which is low compared to the average daily volume of 300.34M shares. CHSP has also gained 2.24% of its value over the past 7 days. However, the stock has declined by 7.41% in the 3 months of the year. Over the past six months meanwhile, it has lost 8.51% while it has added 10.39% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -8.17% from its 3 months high price. However, taking another look at CHSP will indicate that it is trading +6.16% away from its 90-day low. Looking at the bigger picture, the Chesapeake Lodging Trust stock has dropped by -20.5% from its 52-week high while it has surged by +13.51% from its 52-week low price.

On February 22, 2019 Nuechterlein Jeffrey D, Director bought 1500 shares of the company. The average price for that transaction was $30.11 per share, which meant that Nuechterlein Jeffrey D spent $45165 purchasing the stocks. The purchase was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with Director, Nuechterlein Jeffrey D selling 1000 shares of this stock on December 13, 2018. The average selling price for the stock was $28.45 per share, with the sold stock accruing $28450. Following this transaction, the Director Nuechterlein Jeffrey D now holds 14154 shares of the company, which is worth around $382865.7.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 45.48%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 78%. Over the past 20 days, Chesapeake’s Stochastic %K stood at 85.12% while its Stochastic %D was revealed to be 86.96%.