Park Hotels & Resorts (NYSE:PK – Get Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
A number of other research analysts have also recently commented on the company. Barclays upgraded Park Hotels & Resorts from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $16.00 to $19.00 in a research note on Monday, November 6th. Jefferies Financial Group upgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $21.00 in a research note on Tuesday, January 2nd. HSBC assumed coverage on Park Hotels & Resorts in a research note on Monday, October 23rd. They set a “hold” rating and a $13.00 price objective for the company. JPMorgan Chase & Co. upgraded Park Hotels & Resorts from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $11.00 to $16.00 in a research note on Thursday, December 14th. Finally, Wells Fargo & Company lifted their price objective on Park Hotels & Resorts from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.45.
Park Hotels & Resorts Price Performance
PK opened at $15.08 on Thursday. The stock’s 50 day simple moving average is $15.71 and its 200 day simple moving average is $13.77. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.41 and a quick ratio of 2.41. Park Hotels & Resorts has a 1 year low of $10.70 and a 1 year high of $17.37. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -55.83, a PEG ratio of 0.67 and a beta of 2.03.
Park Hotels & Resorts (NYSE:PK – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.29). The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $667.05 million. Park Hotels & Resorts had a negative return on equity of 1.36% and a negative net margin of 2.07%. As a group, analysts predict that Park Hotels & Resorts will post 1.97 earnings per share for the current year.
Hedge Funds Weigh In On Park Hotels & Resorts
A number of hedge funds have recently made changes to their positions in PK. FNY Investment Advisers LLC purchased a new stake in shares of Park Hotels & Resorts in the fourth quarter worth about $42,000. Covestor Ltd lifted its position in shares of Park Hotels & Resorts by 614.1% in the second quarter. Covestor Ltd now owns 4,256 shares of the financial services provider’s stock worth $55,000 after buying an additional 3,660 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Park Hotels & Resorts by 35.2% in the second quarter. Quadrant Capital Group LLC now owns 4,617 shares of the financial services provider’s stock worth $59,000 after buying an additional 1,201 shares in the last quarter. Spire Wealth Management lifted its position in shares of Park Hotels & Resorts by 20.1% in the third quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after buying an additional 860 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Park Hotels & Resorts by 27.6% in the second quarter. Signaturefd LLC now owns 6,962 shares of the financial services provider’s stock worth $89,000 after buying an additional 1,506 shares in the last quarter. Institutional investors own 91.40% of the company’s stock.
About Park Hotels & Resorts
Park is one of the largest publicly-traded lodging REITs with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 43 premium-branded hotels and resorts (excluding the Hilton San Francisco Hotels) with over 26,000 rooms primarily located in prime city center and resort locations.