Jefferies Financial Group Cuts Park Hotels & Resorts (NYSE:PK) Price Target to $22.00

Park Hotels & Resorts (NYSE:PK) had its price objective reduced by research analysts at Jefferies Financial Group from $23.00 to $22.00 in a 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 would suggest a potential upside of 57.93% from the company’s previous close.

PK has been the topic of a number of other research reports. Truist Financial dropped their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Bank of America decreased their price target on shares of 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. Compass Point reduced their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Wolfe Research cut Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Finally, Wells Fargo & Company raised their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.65.

Park Hotels & Resorts Stock Down 1.0 %

Shares of PK stock traded down $0.14 during mid-day trading on Thursday, reaching $13.93. 854,347 shares of the company were exchanged, compared to its average volume of 2,830,365. Park Hotels & Resorts has a fifty-two week low of $13.23 and a fifty-two week high of $18.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The company has a market capitalization of $2.88 billion, a P/E ratio of 8.87, a P/E/G ratio of 6.90 and a beta of 2.03. The business’s 50 day simple moving average is $14.87 and its 200 day simple moving average is $14.65.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $646.15 million. During the same period in the prior year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. Research analysts predict that Park Hotels & Resorts will post 1.96 earnings per share for the current year.

Institutional Trading of Park Hotels & Resorts

Several institutional investors have recently added to or reduced their stakes in PK. Harbor Capital Advisors Inc. bought a new stake in Park Hotels & Resorts during the third quarter valued at $33,000. Venturi Wealth Management LLC raised its stake in shares of Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 2,841 shares during the period. Quarry LP raised its stake in shares of Park Hotels & Resorts by 82.1% in the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,857 shares during the period. Claro Advisors LLC bought a new stake in Park Hotels & Resorts during the 3rd quarter valued at $69,000. Finally, Covestor Ltd grew its stake in Park Hotels & Resorts by 64.8% during the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 2,711 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

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.