Park Hotels & Resorts (NYSE:PK) Upgraded by StockNews.com to “Hold” Rating

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

A number of other research firms have also commented on PK. UBS Group raised their price target on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock 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 Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company lifted their price objective on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.55.

Park Hotels & Resorts Stock Performance

Shares of PK stock traded down $0.21 during midday trading on Monday, hitting $14.71. 4,722,692 shares of the company were exchanged, compared to its average volume of 2,820,048. Park Hotels & Resorts has a 52 week low of $13.23 and a 52 week high of $18.05. The firm has a market capitalization of $3.04 billion, a P/E ratio of 9.37, a PEG ratio of 6.90 and a beta of 2.03. The firm’s 50 day moving average price is $14.86 and its two-hundred day moving average price is $14.65. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PK. Tidal Investments LLC increased its holdings in Park Hotels & Resorts by 5.5% in the 3rd quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 1,020 shares in the last quarter. Arizona State Retirement System raised its holdings in Park Hotels & Resorts by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 58,940 shares of the financial services provider’s stock valued at $883,000 after buying an additional 1,232 shares during the last quarter. Bfsg LLC raised its holdings in Park Hotels & Resorts by 8.7% in the 3rd quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock valued at $218,000 after buying an additional 1,235 shares during the last quarter. Kendall Capital Management boosted its position in Park Hotels & Resorts by 11.0% during the 2nd quarter. Kendall Capital Management now owns 15,095 shares of the financial services provider’s stock worth $226,000 after buying an additional 1,500 shares during the period. Finally, United Services Automobile Association grew its holdings in Park Hotels & Resorts by 10.5% during the 2nd quarter. United Services Automobile Association now owns 15,826 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 1,509 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.