Park Hotels & Resorts Inc (NYSE:PK) Receives $13.10 Consensus Target Price from Brokerages

Shares of Park Hotels & Resorts Inc (NYSE:PK) have been given an average recommendation of “Hold” by the sixteen ratings firms that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $13.10.

Several brokerages have recently weighed in on PK. Zacks Investment Research lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Wednesday, July 15th. TheStreet downgraded shares of Park Hotels & Resorts from a “c” rating to a “d” rating in a research report on Monday, May 11th. Raymond James decreased their target price on shares of Park Hotels & Resorts from $16.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, July 14th. UBS Group decreased their target price on shares of Park Hotels & Resorts from $24.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Finally, Capital One Financial downgraded shares of Park Hotels & Resorts from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 29th.

In other news, Director Thomas A. Natelli acquired 12,500 shares of Park Hotels & Resorts stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $11.10 per share, with a total value of $138,750.00. Following the transaction, the director now owns 112,898 shares of the company’s stock, valued at approximately $1,253,167.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Natelli acquired 7,500 shares of Park Hotels & Resorts stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of $11.39 per share, with a total value of $85,425.00. Following the completion of the transaction, the director now directly owns 112,898 shares in the company, valued at approximately $1,285,908.22. The disclosure for this purchase can be found here. Insiders acquired a total of 50,000 shares of company stock valued at $555,675 over the last ninety days. 0.60% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Comerica Bank grew its position in shares of Park Hotels & Resorts by 5.0% during the 2nd quarter. Comerica Bank now owns 148,171 shares of the financial services provider’s stock valued at $1,365,000 after acquiring an additional 7,066 shares during the period. Park Avenue Securities LLC bought a new position in shares of Park Hotels & Resorts during the 2nd quarter valued at approximately $119,000. State of Michigan Retirement System grew its position in shares of Park Hotels & Resorts by 29.2% during the 2nd quarter. State of Michigan Retirement System now owns 85,765 shares of the financial services provider’s stock valued at $848,000 after acquiring an additional 19,365 shares during the period. First Quadrant L P CA bought a new position in shares of Park Hotels & Resorts during the 2nd quarter valued at approximately $273,000. Finally, Pitcairn Co. bought a new position in shares of Park Hotels & Resorts during the 2nd quarter valued at approximately $159,000. 93.58% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE PK opened at $8.27 on Tuesday. The firm’s 50-day moving average price is $9.80 and its 200-day moving average price is $12.95. Park Hotels & Resorts has a 1-year low of $3.99 and a 1-year high of $27.03. The firm has a market capitalization of $1.95 billion, a P/E ratio of 3.38 and a beta of 2.03. The company has a current ratio of 5.41, a quick ratio of 5.41 and a debt-to-equity ratio of 0.92.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Monday, May 11th. The financial services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.33). Park Hotels & Resorts had a negative net margin of 17.17% and a negative return on equity of 7.95%. The company had revenue of $599.00 million for the quarter, compared to analyst estimates of $572.02 million. During the same quarter in the prior year, the company posted $0.67 EPS. Park Hotels & Resorts’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities research analysts forecast that Park Hotels & Resorts will post -0.86 EPS for the current year.

Park Hotels & Resorts Company Profile

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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