Park Hotels & Resorts (NYSE:PK) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a report released on Thursday morning.

Several other equities analysts also recently weighed in on PK. Truist Financial decreased their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Bank of America decreased their target price 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. Evercore ISI decreased their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company cut their price target on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts has a consensus rating of “Hold” and an average price target of $18.00.

Park Hotels & Resorts Stock Performance

NYSE PK traded down $0.03 on Thursday, hitting $14.68. 1,406,235 shares of the company’s stock traded hands, compared to its average volume of 2,765,377. The firm has a market capitalization of $3.03 billion, a PE ratio of 9.37, a P/E/G ratio of 0.73 and a beta of 2.02. Park Hotels & Resorts has a 1-year low of $12.85 and a 1-year high of $18.05. The firm’s 50-day moving average price is $14.34 and its two-hundred day moving average price is $14.88. 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 (NYSE:PK) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter in the previous year, the company earned $0.51 EPS. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, analysts expect that Park Hotels & Resorts will post 2.09 EPS for the current year.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds have recently made changes to their positions in the business. Blue Zone Wealth Advisors LLC raised its stake in Park Hotels & Resorts by 0.4% during the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider’s stock valued at $3,786,000 after acquiring an additional 883 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Park Hotels & Resorts by 2.1% in the second quarter. Arizona State Retirement System now owns 58,940 shares of the financial services provider’s stock valued at $883,000 after buying an additional 1,232 shares during the period. Bfsg LLC boosted its stake in Park Hotels & Resorts by 8.7% during the third quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock valued at $218,000 after buying an additional 1,235 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Park Hotels & Resorts during the first quarter worth about $26,000. Finally, Kendall Capital Management grew its holdings in Park Hotels & Resorts by 11.0% during the second quarter. Kendall Capital Management now owns 15,095 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 1,500 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.