Park Hotels & Resorts (NYSE:PK) Cut to “Sell” at StockNews.com

Park Hotels & Resorts (NYSE:PK) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Several other brokerages have also recently weighed in on PK. Jefferies Financial Group lowered their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. UBS Group lifted their price target on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. Compass Point lowered their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Bank of America lowered their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Hold” and a consensus target price of $18.65.

Park Hotels & Resorts Trading Down 1.6 %

Shares of PK opened at $13.97 on Tuesday. The company’s fifty day simple moving average is $14.87 and its 200-day simple moving average is $14.62. The company has a market cap of $2.88 billion, a P/E ratio of 8.90, a P/E/G ratio of 6.90 and a beta of 2.02. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts has a twelve month low of $13.23 and a twelve month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results 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). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, analysts expect that Park Hotels & Resorts will post 1.96 EPS for the current year.

Institutional Trading of Park Hotels & Resorts

A number of institutional investors have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. grew its position in shares of 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 worth $113,890,000 after buying an additional 1,484,295 shares in the last quarter. AQR Capital Management LLC grew its holdings 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 worth $77,217,000 after acquiring an additional 3,897,889 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after buying an additional 540,920 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Park Hotels & Resorts by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock valued at $46,638,000 after buying an additional 115,391 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Park Hotels & Resorts by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock valued at $40,928,000 after buying an additional 66,093 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Company Profile

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.