Compass Point Issues Pessimistic Forecast for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK) had its price target lowered by research analysts at Compass Point from $25.00 to $20.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Compass Point’s price objective points to a potential upside of 44.46% from the company’s previous close.

PK has been the topic of a number of other reports. UBS Group lowered their price objective on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company reduced their price target 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. Finally, Truist Financial dropped their price objective 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. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.58.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $13.85 on Thursday. Park Hotels & Resorts has a fifty-two week low of $12.09 and a fifty-two week high of $18.05. The company’s 50-day moving average is $14.38 and its 200 day moving average is $14.92. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.58 and a current ratio of 1.51. The company has a market capitalization of $2.89 billion, a P/E ratio of 8.82, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02.

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 analysts’ consensus estimates 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 company had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts forecast that Park Hotels & Resorts will post 2.09 earnings per share for the current year.

Institutional Trading of Park Hotels & Resorts

A number of hedge funds have recently made changes to their positions in PK. Wealth Enhancement Advisory Services LLC bought a new stake in Park Hotels & Resorts during the first quarter worth about $1,156,000. State of Michigan Retirement System grew its position in Park Hotels & Resorts by 2.2% during 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 last quarter. Retirement Systems of Alabama raised its stake in shares of 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 worth $4,612,000 after acquiring an additional 693 shares in the last quarter. BNP Paribas Financial Markets raised its position in Park Hotels & Resorts by 203.2% in the 1st quarter. BNP Paribas Financial Markets now owns 506,484 shares of the financial services provider’s stock worth $8,858,000 after purchasing an additional 339,452 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Park Hotels & Resorts by 54.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,621 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 5,479 shares during the period. 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.