Compass Point Has Lowered Expectations for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK) had its price target lowered by equities research analysts at Compass Point from $25.00 to $20.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Compass Point’s price target suggests a potential upside of 44.46% from the company’s previous close.

A number of other brokerages have also recently issued reports on PK. Bank of America lowered their price target 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. UBS Group reduced their price target on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 16th. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday. Truist Financial reduced 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 note on Wednesday, September 4th. Finally, Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of “Hold” and an average target price of $17.58.

Park Hotels & Resorts Price Performance

PK stock opened at $13.85 on Thursday. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 0.73 and a beta of 2.02. The firm’s 50-day moving average price is $14.38 and its two-hundred day moving average price is $14.92. The company has a current ratio of 1.51, a quick ratio of 1.58 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts has a 12-month low of $12.09 and a 12-month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, equities analysts predict that Park Hotels & Resorts will post 2.09 earnings per share for the current year.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently modified their holdings of the company. Retirement Systems of Alabama increased its position in shares of Park Hotels & Resorts by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider’s stock valued at $4,612,000 after purchasing an additional 693 shares during the last quarter. Blue Zone Wealth Advisors LLC raised its position in Park Hotels & Resorts by 0.4% in the second quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider’s stock worth $3,786,000 after acquiring an additional 883 shares during the period. State of Michigan Retirement System boosted its stake in shares of Park Hotels & Resorts by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 51,529 shares of the financial services provider’s stock worth $901,000 after acquiring an additional 1,100 shares during 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 worth $883,000 after purchasing an additional 1,232 shares during the period. Finally, Bfsg LLC increased its position in Park Hotels & Resorts by 8.7% in the third quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock worth $218,000 after buying an additional 1,235 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

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.