Park Hotels & Resorts (NYSE:PK) Lowered to Sell Rating by StockNews.com

Park Hotels & Resorts (NYSE:PK) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Several other research analysts also recently issued reports on PK. Compass Point cut their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Evercore ISI reduced their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Bank of America cut their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. Truist Financial decreased their price target on shares of 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. Finally, UBS Group cut their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Hold” and a consensus target price of $17.58.

Park Hotels & Resorts Trading Up 5.0 %

Shares of Park Hotels & Resorts stock opened at $14.99 on Thursday. The company has a 50-day moving average of $14.35 and a two-hundred day moving average of $14.88. Park Hotels & Resorts has a 12-month low of $12.85 and a 12-month high of $18.05. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock has a market cap of $3.09 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.21). The firm had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 earnings per share. On average, research analysts anticipate that Park Hotels & Resorts will post 2.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Park Hotels & Resorts

Institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC raised its stake in Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock valued at $77,217,000 after buying an additional 3,897,889 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in Park Hotels & Resorts by 286.9% during the second quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock worth $38,904,000 after purchasing an additional 1,925,850 shares during the last quarter. Donald Smith & CO. Inc. increased its stake in Park Hotels & Resorts by 22.5% during the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after purchasing an additional 1,484,295 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Park Hotels & Resorts by 15,714.0% during the first quarter. SG Americas Securities LLC now owns 1,301,019 shares of the financial services provider’s stock worth $22,755,000 after purchasing an additional 1,292,792 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Park Hotels & Resorts by 345.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider’s stock worth $14,595,000 after buying an additional 802,939 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.