Park Hotels & Resorts (NYSE:PK) Price Target Raised to $15.00

Park Hotels & Resorts (NYSE:PK) had its price objective boosted by UBS Group from $14.00 to $15.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

PK has been the subject of several other reports. Truist Financial cut their target price on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Bank of America cut their price objective 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. Evercore ISI decreased their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Compass Point cut their target price 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. Finally, StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Hold” and an average target price of $18.09.

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $14.19 on Monday. The stock has a market cap of $2.93 billion, a P/E ratio of 9.12, a PEG ratio of 0.80 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’s 50-day moving average price is $14.38 and its two-hundred day moving average price is $14.76. Park Hotels & Resorts has a twelve month low of $13.23 and a twelve month high of $18.05.

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

Hedge Funds Weigh In On Park Hotels & Resorts

A number of hedge funds have recently modified their holdings of the company. Barclays PLC grew its position in shares of Park Hotels & Resorts by 22.4% in the 3rd quarter. Barclays PLC now owns 319,593 shares of the financial services provider’s stock worth $4,507,000 after buying an additional 58,432 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Park Hotels & Resorts by 81.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 42,051 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 18,892 shares during the period. MML Investors Services LLC boosted its holdings in Park Hotels & Resorts by 55.1% in the third quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 8,749 shares in the last quarter. XTX Topco Ltd increased its position in Park Hotels & Resorts by 420.7% during the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock valued at $1,257,000 after purchasing an additional 72,044 shares during the period. Finally, EP Wealth Advisors LLC bought a new position in Park Hotels & Resorts in the 3rd quarter worth $224,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.