Truist Financial Has Lowered Expectations for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK) had its target price cut by analysts at Truist Financial from $18.00 to $16.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 43.05% from the company’s current price.

A number of other equities analysts also recently issued reports on PK. UBS Group lowered their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Jefferies Financial Group lowered their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Finally, Wells Fargo & Company lowered their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.72.

Park Hotels & Resorts Stock Down 3.5 %

Park Hotels & Resorts stock opened at $11.19 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The business’s 50-day simple moving average is $12.73 and its two-hundred day simple moving average is $13.93. The company has a market cap of $2.26 billion, a PE ratio of 11.07, a PEG ratio of 1.51 and a beta of 2.02. Park Hotels & Resorts has a fifty-two week low of $10.87 and a fifty-two week high of $17.96.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The company had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $609.05 million. Equities analysts anticipate that Park Hotels & Resorts will post 2.11 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd boosted its holdings in Park Hotels & Resorts by 420.7% in the third quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock valued at $1,257,000 after purchasing an additional 72,044 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Park Hotels & Resorts by 321.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock valued at $19,875,000 after purchasing an additional 1,075,255 shares during the period. JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 540,920 shares during the period. Northeast Financial Group Inc. boosted its holdings in Park Hotels & Resorts by 34.4% in the fourth quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider’s stock valued at $1,754,000 after purchasing an additional 31,928 shares during the period. Finally, Systematic Financial Management LP purchased a new position in Park Hotels & Resorts in the third quarter valued at $768,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.