Park Hotels & Resorts (NYSE:PK) Upgraded at StockNews.com

StockNews.com upgraded shares of Park Hotels & Resorts (NYSE:PK) from a sell rating to a hold rating in a research note published on Wednesday.

PK has been the topic of a number of other reports. Bank of America lowered their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. UBS Group reduced 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 report on Friday, August 16th. Wells Fargo & Company decreased their target price on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, 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 report on Tuesday, August 13th. Eight research 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 presently has a consensus rating of “Hold” and an average target price of $17.58.

Park Hotels & Resorts Price Performance

Shares of Park Hotels & Resorts stock opened at $13.85 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.58. The company has a market cap of $2.89 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02. The firm has a fifty day moving average price of $14.38 and a two-hundred day moving average price of $14.92. Park Hotels & Resorts has a fifty-two week low of $12.09 and a fifty-two week high of $18.05.

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 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 company had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. During the same quarter in the previous year, the business posted $0.51 EPS. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. Analysts expect that Park Hotels & Resorts will post 2.09 EPS for the current year.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of PK. Fidelis Capital Partners LLC bought a new stake in shares of Park Hotels & Resorts during the first quarter worth $26,000. Harbor Capital Advisors Inc. acquired a new position in Park Hotels & Resorts during the 3rd quarter worth about $33,000. Quarry LP grew its holdings in Park Hotels & Resorts by 82.1% during 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 last quarter. Claro Advisors LLC acquired a new stake in Park Hotels & Resorts in the 3rd quarter valued at about $69,000. Finally, FinTrust Capital Advisors LLC increased its position in Park Hotels & Resorts by 260.5% in the 1st quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 3,668 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

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.