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

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

A number of other analysts have also recently weighed in on PK. UBS Group upped their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Bank of America lowered their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. Truist Financial cut their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Wells Fargo & Company boosted their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Finally, Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts has a consensus rating of “Moderate Buy” and an average price target of $18.55.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK traded down $0.21 during midday trading on Monday, reaching $14.71. 4,722,692 shares of the company’s stock were exchanged, compared to its average volume of 2,820,048. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The company’s 50 day simple moving average is $14.86 and its two-hundred day simple moving average is $14.65. Park Hotels & Resorts has a 12 month low of $13.23 and a 12 month high of $18.05. The firm has a market capitalization of $3.04 billion, a PE ratio of 9.37, a price-to-earnings-growth ratio of 6.90 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. During the same quarter in the prior year, the business earned $0.51 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities research analysts expect that Park Hotels & Resorts will post 1.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Park Hotels & Resorts by 4.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,290 shares of the financial services provider’s stock valued at $1,368,000 after purchasing an additional 4,072 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Park Hotels & Resorts by 263.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 75,142 shares of the financial services provider’s stock valued at $1,126,000 after purchasing an additional 54,473 shares in the last quarter. Van ECK Associates Corp boosted its position in Park Hotels & Resorts by 6.5% during the 2nd quarter. Van ECK Associates Corp now owns 32,010 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 1,954 shares during the last quarter. Natixis Advisors LLC acquired a new position in Park Hotels & Resorts during the second quarter worth $225,000. Finally, Versor Investments LP boosted its stake in shares of Park Hotels & Resorts by 11.7% during the 2nd quarter. Versor Investments LP now owns 32,100 shares of the financial services provider’s stock worth $481,000 after buying an additional 3,358 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

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.