Park Hotels & Resorts (NYSE:PK) Given New $14.50 Price Target at Wells Fargo & Company

Park Hotels & Resorts (NYSE:PK) had its target price reduced by equities researchers at Wells Fargo & Company from $17.00 to $14.50 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 3.42% from the company’s current price.

PK has been the subject of several other research reports. Evercore ISI dropped their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. UBS Group dropped their price objective on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Wedbush reissued a “neutral” rating and set a $17.00 target price on shares of Park Hotels & Resorts in a research note on Tuesday, May 28th. 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. Finally, Barclays increased their price objective on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Park Hotels & Resorts has an average rating of “Hold” and a consensus target price of $16.96.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK traded up $0.24 during trading on Friday, hitting $14.02. The company had a trading volume of 634,217 shares, compared to its average volume of 2,675,700. Park Hotels & Resorts has a 12 month low of $11.05 and a 12 month high of $18.05. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market capitalization of $2.93 billion, a P/E ratio of 31.89, a price-to-earnings-growth ratio of 0.66 and a beta of 2.02. The stock has a 50 day simple moving average of $14.52 and a 200 day simple moving average of $15.65.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). The firm had revenue of $686.00 million for the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. As a group, analysts anticipate that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Retirement Systems of Alabama raised its position in Park Hotels & Resorts by 0.3% during the first quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider’s stock valued at $4,612,000 after purchasing an additional 693 shares during the period. Truist Financial Corp boosted its stake in Park Hotels & Resorts by 3.8% during the fourth quarter. Truist Financial Corp now owns 22,335 shares of the financial services provider’s stock worth $342,000 after buying an additional 816 shares during the period. Blue Zone Wealth Advisors LLC increased its position in Park Hotels & Resorts by 0.4% during the second quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider’s stock valued at $3,786,000 after acquiring an additional 883 shares during the last quarter. Treasurer of the State of North Carolina increased its position in Park Hotels & Resorts by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 94,701 shares of the financial services provider’s stock valued at $1,449,000 after acquiring an additional 920 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in shares of Park Hotels & Resorts by 2.2% in the first quarter. State of Michigan Retirement System now owns 51,529 shares of the financial services provider’s stock valued at $901,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 92.69% of the company’s stock.

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.