Park Hotels & Resorts (NYSE:PK) Downgraded by Wolfe Research

Park Hotels & Resorts (NYSE:PK) was downgraded by equities research analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued on Thursday, Marketbeat Ratings reports.

PK has been the subject of several other research reports. Evercore ISI dropped their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Wells Fargo & Company dropped their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research note on Friday, September 13th. UBS Group decreased their price objective on shares of 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, Truist Financial decreased their price objective on shares of 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. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.05.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $14.81 on Thursday. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 0.73 and a beta of 2.02. 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 firm has a 50 day simple moving average of $14.56 and a 200 day simple moving average of $15.51. Park Hotels & Resorts has a one year low of $11.05 and a one year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.30). The business had revenue of $686.00 million for the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. Research analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Park Hotels & Resorts

Several large investors have recently modified their holdings of PK. Retirement Systems of Alabama grew its stake in Park Hotels & Resorts by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider’s stock worth $4,612,000 after buying an additional 693 shares in the last quarter. Blue Zone Wealth Advisors LLC grew its stake in Park Hotels & Resorts by 0.4% in the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider’s stock worth $3,786,000 after buying an additional 883 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in Park Hotels & Resorts by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 94,701 shares of the financial services provider’s stock worth $1,449,000 after buying an additional 920 shares in the last quarter. State of Michigan Retirement System grew its stake in Park Hotels & Resorts by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 51,529 shares of the financial services provider’s stock worth $901,000 after buying an additional 1,100 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of Park Hotels & Resorts by 10.8% in the 1st quarter. Wedmont Private Capital now owns 11,418 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 1,117 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.