Park Hotels & Resorts (NYSE:PK) Raised to Hold 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 on Tuesday.

Several other equities analysts have also recently commented on PK. UBS Group boosted their price target on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Jefferies Financial Group lowered their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Compass Point cut their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Bank of America decreased their target price on shares of 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. Finally, Wells Fargo & Company increased their target price on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts has an average rating of “Moderate Buy” and an average target price of $18.65.

Park Hotels & Resorts Stock Down 0.4 %

NYSE PK traded down $0.06 during trading on Tuesday, reaching $13.68. 5,155,098 shares of the company’s stock were exchanged, compared to its average volume of 3,385,741. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts has a fifty-two week low of $13.22 and a fifty-two week high of $18.05. The company’s fifty day simple moving average is $14.62 and its 200-day simple moving average is $14.52. The firm has a market capitalization of $2.82 billion, a PE ratio of 8.71, a P/E/G ratio of 5.69 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.21). The company had revenue of $649.00 million for the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. Sell-side analysts predict that Park Hotels & Resorts will post 1.97 EPS for the current year.

Institutional Trading of Park Hotels & Resorts

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new stake in shares of Park Hotels & Resorts in the third quarter valued at about $33,000. Venturi Wealth Management LLC raised its holdings in Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 2,841 shares in the last quarter. Quarry LP lifted its position in shares of Park Hotels & Resorts by 82.1% in the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,857 shares during the period. Claro Advisors LLC acquired a new stake in shares of Park Hotels & Resorts during the 3rd quarter worth approximately $69,000. Finally, Covestor Ltd increased its position in shares of Park Hotels & Resorts by 64.8% during the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 2,711 shares during the period. 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.