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

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

PK has been the topic of several other research reports. Compass Point decreased their price target 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. UBS Group boosted their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. Jefferies Financial Group cut their price target 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 upped their price objective on Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Finally, 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 report on Monday, October 21st. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Moderate Buy” and an average target price of $18.65.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $13.36 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. Park Hotels & Resorts has a 52 week low of $13.22 and a 52 week high of $18.05. The firm has a market capitalization of $2.76 billion, a PE ratio of 8.51, a P/E/G ratio of 5.69 and a beta of 2.02. The company has a 50 day moving average price of $14.62 and a 200-day moving average price of $14.52.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The business had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. As a group, equities research analysts expect that Park Hotels & Resorts will post 1.97 earnings per share for the current year.

Institutional Trading of Park Hotels & Resorts

Several large investors have recently bought and sold shares of PK. AXA S.A. purchased a new stake in Park Hotels & Resorts in the second quarter valued at $1,979,000. Scientech Research LLC purchased a new position in Park Hotels & Resorts during the second quarter worth about $356,000. Creative Planning raised its stake in shares of Park Hotels & Resorts by 39.0% in the 2nd quarter. Creative Planning now owns 26,190 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 7,348 shares during the period. Quarry LP lifted its holdings in shares of Park Hotels & Resorts by 82.1% in the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,857 shares during the last quarter. Finally, Truist Financial Corp boosted its position in shares of Park Hotels & Resorts by 129.1% during the 2nd quarter. Truist Financial Corp now owns 53,318 shares of the financial services provider’s stock worth $799,000 after purchasing an additional 30,043 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.