Peak Resorts Inc (NASDAQ:SKIS) received a stock rating upgrade from Macquarie on May-26-16. In a note to investors, the firm issued an Outperform rating. The analysts previously had an Underperform rating on the stock.
Analysts have a consensus target price of $5.55 in the 12-month period. The price objective is 29.67% higher than the recent closing price of $4.28. The 52-week price range is $2.60-$7.53 and the company has a market capitalization of $58.85 billion. Analysts covering the shares maintain a consensus Strong Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, 0 has assigned a hold rating, 1 says it’s a buy, and 5 have assigned a strong buy rating to the company.
Peak Resorts Inc (SKIS) on May 25, 2016 announced that the United States Citizenship and Immigration Services (USCIS) approved the company’s Mount Snow EB-5 program. The related $52 million in funds raised from investors for the Mount Snow development projects will be released from escrow immediately following the approval of the first I-526 Petition submitted by an investor in the Mount Snow EB-5 offering. Historically, the Petition approvals occur shortly after program approval.
While awaiting this USCIS approval, the company invested more than $12 million in project construction since May 2015. Peak Resorts will be reimbursed for that spending as the committed funds are released from escrow.
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