Analysts raise targets into the print, while short sellers trim positions and options skew turns bullish. HLT reports Q1 2026 results on April 28.
Short interest stood at 5.68 million shares as of April 23, representing 2.44% of the free float. That's down 1.4% over the past week and essentially flat over the month, rising just 0.6%. Days to cover sits at 3.91. Cost to borrow has climbed sharply, up 24% week-over-week to 0.52% and 60% higher than a month ago. Utilization has fallen to 0.53%, down from a March peak above 2% and well below the 52-week high of 6.92%. The low utilization signals ample shares remain available for shorting despite rising borrow costs.
The put/call ratio hit 0.64 on April 24, down from a 20-day mean of 0.71. That puts the PCR at a z-score of -1.19, reflecting a bullish tilt as traders favored calls into earnings. The ratio sits near the bottom of its 52-week range of 0.49 to 1.21. The shift toward call buying this week marks a departure from the neutral-to-bearish sentiment that prevailed through early April.
Wall Street has raised price targets aggressively in recent weeks. The average target now stands at $341, implying modest upside from the current $336 price. JP Morgan lifted its target to $363 on April 21, maintaining an Overweight rating. Barclays matched that move on April 16. Evercore raised to $350 on April 24, while Susquehanna jumped to $345 from $255 on April 23. Morgan Stanley increased its target to $318 from $303 on April 10. Benzinga's bull case highlights 70% share price gains driven by multiple expansion to 20x FY2 EBITDA, 6–7% net unit growth guidance, and 21% EBITDA growth from 2023 to 2025. The bear case warns of uncertain pipeline growth, conservative RevPAR guidance, and elevated EBITDA multiples relative to franchise peers.
The stock trades at a P/E of 35.3, up 2.8 turns over 30 days. EV/EBITDA sits at 21.5, down 0.14 from a month ago despite the rally. HLT ranks in the 100th percentile on 12-month forward EPS growth, the 60th on 30-day EPS momentum, and the 55th on 90-day momentum. Its value and quality scores were unavailable, but the 15th-percentile EV/EBIT rank suggests the market prices in strong future growth.
Insiders sold $61.4 million net over the past 90 days, led by CEO Christopher Nassetta's $15.5 million sale on March 3. T. Rowe Price added 480,162 shares in Q1, lifting its stake to 4.21%. BlackRock holds 8.96% after a modest 118,345-share increase.
Hilton's last three earnings prints occurred in February 2026, with prior events in October 2025 and earlier quarters. The stock has rallied 11.9% over the past month, though it dipped 1.6% this week ahead of results.
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