Wells Fargo & Company Raises Park Hotels & Resorts (NYSE:PK) Price Target to $16.00

Park Hotels & Resorts (NYSE:PK) had its price objective lifted by equities researchers at Wells Fargo & Company from $14.50 to $16.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 2.83% from the stock’s current price.

A number of other research analysts have also commented on PK. Truist Financial lowered their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Compass Point lowered their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Bank of America decreased their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Finally, UBS Group raised their price objective on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.23.

Park Hotels & Resorts Stock Up 1.3 %

PK stock opened at $15.56 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The firm’s 50-day simple moving average is $14.49 and its 200 day simple moving average is $14.73. The stock has a market cap of $3.21 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 0.85 and a beta of 2.02. Park Hotels & Resorts has a fifty-two week low of $13.23 and a fifty-two week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. During the same period last year, the firm posted $0.51 EPS. The business’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, 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

A number of institutional investors and hedge funds have recently modified their holdings of PK. Algert Global LLC increased its stake in Park Hotels & Resorts by 48.6% in the 2nd quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock worth $11,269,000 after purchasing an additional 245,973 shares in the last quarter. Diversified Trust Co acquired a new stake in shares of Park Hotels & Resorts during the second quarter valued at approximately $599,000. Quantbot Technologies LP raised its holdings in shares of Park Hotels & Resorts by 95.7% during the second quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider’s stock valued at $5,511,000 after acquiring an additional 179,884 shares during the period. CWM LLC lifted its position in shares of Park Hotels & Resorts by 1,875.4% in the 2nd quarter. CWM LLC now owns 56,258 shares of the financial services provider’s stock valued at $843,000 after acquiring an additional 53,410 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Park Hotels & Resorts by 70.9% in the 2nd quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider’s stock worth $3,298,000 after purchasing an additional 92,800 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.