StockNews.com Downgrades Park Hotels & Resorts (NYSE:PK) to Sell

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

Several other research firms have also recently weighed in on PK. Jefferies Financial Group dropped 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. Compass Point dropped their target price 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. Wells Fargo & Company lifted their price objective on Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. UBS Group dropped their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday. Finally, Bank of America reduced their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Hold” and an average price target of $18.45.

Park Hotels & Resorts Price Performance

Shares of NYSE PK traded down $0.03 during trading on Wednesday, reaching $13.08. The company had a trading volume of 2,137,080 shares, compared to its average volume of 3,527,843. Park Hotels & Resorts has a 52 week low of $12.80 and a 52 week high of $18.05. The business’s 50 day moving average price is $14.45 and its 200-day moving average price is $14.46. The stock has a market cap of $2.70 billion, a PE ratio of 8.33 and a beta of 2.00. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Creative Planning lifted its holdings in shares of Park Hotels & Resorts by 39.0% in the second quarter. Creative Planning now owns 26,190 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 7,348 shares in the last quarter. Truist Financial Corp lifted its stake in Park Hotels & Resorts by 129.1% in the 2nd quarter. Truist Financial Corp now owns 53,318 shares of the financial services provider’s stock valued at $799,000 after acquiring an additional 30,043 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Park Hotels & Resorts during the 2nd quarter worth approximately $204,000. CWM LLC grew its stake in shares of Park Hotels & Resorts by 98.4% during the 3rd quarter. CWM LLC now owns 111,611 shares of the financial services provider’s stock worth $1,574,000 after acquiring an additional 55,353 shares in the last quarter. Finally, Pensionfund DSM Netherlands lifted its position in shares of Park Hotels & Resorts by 19.2% in the third quarter. Pensionfund DSM Netherlands now owns 62,038 shares of the financial services provider’s stock worth $875,000 after purchasing an additional 10,000 shares in the last quarter. 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.