Park Hotels & Resorts (NYSE:PK) Stock Price Expected to Rise, UBS Group Analyst Says

Park Hotels & Resorts (NYSE:PK) had its price objective hoisted by UBS Group from $14.00 to $15.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

PK has been the subject of several other reports. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Truist Financial dropped their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Wells Fargo & Company reduced their price objective on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, Evercore ISI dropped their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Hold” and an average target price of $18.09.

Park Hotels & Resorts Stock Down 1.4 %

NYSE:PK opened at $14.28 on Monday. Park Hotels & Resorts has a twelve month low of $13.23 and a twelve month high of $18.05. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 0.80 and a beta of 2.02. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock’s 50 day moving average price is $14.36 and its two-hundred day moving average price is $14.79.

Park Hotels & Resorts (NYSE:PK) last released its 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 net margin of 12.66% and a return on equity of 9.63%. The firm had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. During the same period in the prior year, the business posted $0.51 earnings per share. Park Hotels & Resorts’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts expect that Park Hotels & Resorts will post 2.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Barclays PLC raised its stake in Park Hotels & Resorts by 22.4% in the third quarter. Barclays PLC now owns 319,593 shares of the financial services provider’s stock valued at $4,507,000 after purchasing an additional 58,432 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Park Hotels & Resorts by 81.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,051 shares of the financial services provider’s stock valued at $593,000 after buying an additional 18,892 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Park Hotels & Resorts by 55.1% during the 3rd quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 8,749 shares during the period. XTX Topco Ltd increased its stake 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 acquiring an additional 72,044 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new position in Park Hotels & Resorts in the third quarter valued at approximately $224,000. 92.69% of the stock is owned by 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.