Great Wolf Shares Up After Sell-off A Day Earlier
Stock quotes in this article:
WOLF
SAN FRANCISCO (AP) Shares of Great Wolf Resorts Inc., which operates indoor waterpark resorts in North America, climbed Thursday after falling a day earlier on news of a third-quarter loss due to hefty taxes and writedowns.
But analysts said the company is in a better position than investors might think since its adjusted profit beat analysts' expectations. The shares rose 14 cents, or 4.7 percent, to $3.11 in afternoon trading Thursday. Susquehanna International Group analyst Robert LaFleur said Wednesday's stock sell-off was unwarranted and that the company is well-positioned for the current economy as consumers seek value over luxury. "The lion's share of WOLF's revenue comes from leisure travel and WOLF has done a good job of positioning itself as a drive-to vacation destination with a high perceived value for families with children," LaFleur told investors in a research report. LaFleur has a "Positive" rating on the shares and said the company appears to be undervalued compared with competitors. "Room pricing and occupancy exceeded our estimates as marketing activities are getting traction," Stifel Nicolaus & Co. analyst Steven Wieczynski said, maintaining a "Hold" rating on the stock.- Loading Comments...
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