Park Hotels & Resorts (NYSE:PK) PT Lowered to $16.50

Park Hotels & Resorts (NYSE:PK) had its price objective cut by analysts at Bank of America from $17.00 to $16.50 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price objective points to a potential upside of 18.07% from the company’s previous close.

A number of other research firms have also issued reports on PK. Evercore ISI dropped their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Monday, October 14th. Truist Financial cut their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. UBS Group lowered their price objective on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Wolfe Research cut Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Park Hotels & Resorts Trading Up 0.1 %

NYSE PK opened at $13.98 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58. Park Hotels & Resorts has a one year low of $11.05 and a one year high of $18.05. The company’s 50 day moving average price is $14.48 and its 200 day moving average price is $15.08. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 0.68 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). The business had revenue of $686.00 million for the quarter, compared to analysts’ expectations of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. On average, sell-side analysts predict that Park Hotels & Resorts will post 2.09 EPS for the current year.

Institutional Investors Weigh In On Park Hotels & Resorts

Large investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new position in shares of Park Hotels & Resorts during the first quarter worth about $26,000. Quarry LP raised its holdings in shares of Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,857 shares during the last quarter. Claro Advisors LLC acquired a new position in shares of Park Hotels & Resorts during the third quarter worth approximately $69,000. FinTrust Capital Advisors LLC grew its holdings in Park Hotels & Resorts by 260.5% in the 1st quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock worth $89,000 after buying an additional 3,668 shares in the last quarter. Finally, EntryPoint Capital LLC increased its position in Park Hotels & Resorts by 53.5% in the 1st quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 2,260 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.