Park Hotels & Resorts (NYSE:PK) Upgraded to “Hold” at StockNews.com

Park Hotels & Resorts (NYSE:PK) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other analysts also recently commented on PK. Wells Fargo & Company upped their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Jefferies Financial Group reduced their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. UBS Group boosted their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. Bank of America reduced their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Finally, Compass Point cut their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $18.65.

Park Hotels & Resorts Trading Down 0.4 %

PK stock traded down $0.06 during mid-day trading on Tuesday, hitting $13.68. 5,155,098 shares of the company were exchanged, compared to its average volume of 3,385,741. Park Hotels & Resorts has a 12-month low of $13.22 and a 12-month high of $18.05. The firm has a market capitalization of $2.82 billion, a P/E ratio of 8.71, a PEG ratio of 5.69 and a beta of 2.02. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The business has a fifty day simple moving average of $14.62 and a 200-day simple moving average of $14.52.

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 (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). The company had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 EPS. On average, equities research analysts predict that Park Hotels & Resorts will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Donald Smith & CO. Inc. grew its position in Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after buying an additional 1,484,295 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Park Hotels & Resorts by 321.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock valued at $19,875,000 after acquiring an additional 1,075,255 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Park Hotels & Resorts by 345.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider’s stock valued at $14,595,000 after acquiring an additional 802,939 shares during the period. Foundry Partners LLC bought a new stake in Park Hotels & Resorts during the third quarter worth approximately $9,238,000. Finally, JPMorgan Chase & Co. lifted its position in Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after purchasing an additional 540,920 shares during the period. Institutional investors and hedge funds 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.