Park Hotels & Resorts (NYSE:PK) Upgraded at StockNews.com

Park Hotels & Resorts (NYSE:PK) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other brokerages have also recently issued reports on PK. Truist Financial decreased their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Bank of America reduced their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company reduced their price objective on 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. UBS Group reduced their price objective on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Finally, Evercore ISI reduced their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.36.

Park Hotels & Resorts Trading Up 0.2 %

NYSE PK traded up $0.02 on Wednesday, hitting $14.08. 4,555,845 shares of the company were exchanged, compared to its average volume of 2,727,798. The firm has a market capitalization of $2.94 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 0.72 and a beta of 2.02. Park Hotels & Resorts has a twelve month low of $11.23 and a twelve month high of $18.05. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58. The company’s 50 day moving average price is $14.44 and its 200-day moving average price is $14.96.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. The business had revenue of $686.00 million during the quarter, compared to analyst estimates of $694.94 million. Analysts predict that Park Hotels & Resorts will post 2.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Park Hotels & Resorts

Several institutional investors and hedge funds have recently modified their holdings of the business. Asset Management One Co. Ltd. grew its position in shares of Park Hotels & Resorts by 6.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 337,021 shares of the financial services provider’s stock valued at $4,752,000 after purchasing an additional 20,327 shares during the period. Van ECK Associates Corp lifted its stake in Park Hotels & Resorts by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 35,957 shares of the financial services provider’s stock valued at $492,000 after acquiring an additional 3,947 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Park Hotels & Resorts in the 3rd quarter valued at approximately $33,000. Private Management Group Inc. lifted its stake in Park Hotels & Resorts by 11.2% in the 3rd quarter. Private Management Group Inc. now owns 2,225,243 shares of the financial services provider’s stock valued at $31,376,000 after acquiring an additional 223,562 shares in the last quarter. Finally, Donald Smith & CO. Inc. lifted its stake in Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after acquiring an additional 1,484,295 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.