Park Hotels & Resorts (NYSE:PK) Price Target Cut to $22.00 by Analysts at Jefferies Financial Group

Park Hotels & Resorts (NYSE:PK) had its price target cut by equities research analysts at Jefferies Financial Group from $23.00 to $22.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 57.93% from the company’s previous close.

A number of other analysts have also recently issued reports on PK. Bank of America reduced their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. UBS Group lifted their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Monday. Finally, Truist Financial decreased 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. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.65.

Park Hotels & Resorts Stock Down 1.0 %

Shares of PK traded down $0.14 during trading hours on Thursday, hitting $13.93. The company had a trading volume of 854,347 shares, compared to its average volume of 2,830,365. Park Hotels & Resorts has a 52-week low of $13.23 and a 52-week high of $18.05. The firm has a fifty day moving average price of $14.87 and a 200-day moving average price of $14.65. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 6.90 and a beta of 2.03. 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 for the quarter, missing the consensus estimate 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 firm had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. During the same period in the previous year, the company earned $0.51 earnings per share. Park Hotels & Resorts’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts forecast that Park Hotels & Resorts will post 1.96 EPS for the current fiscal year.

Institutional Trading of Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Donald Smith & CO. Inc. boosted its position in shares of Park Hotels & Resorts by 22.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after purchasing an additional 1,484,295 shares during the period. AQR Capital Management LLC lifted its stake in Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after purchasing an additional 3,897,889 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Park Hotels & Resorts by 18.4% during the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after buying an additional 540,920 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Park Hotels & Resorts by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock valued at $46,638,000 after buying an additional 115,391 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Park Hotels & Resorts by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock valued at $40,928,000 after buying an additional 66,093 shares during the period. 92.69% of the stock is 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.