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

Park Hotels & Resorts (NYSE:PK) had its target price hoisted by UBS Group from $14.00 to $15.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Evercore ISI reduced their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Truist Financial dropped their price target on 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 cut their price objective on 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. Finally, Compass Point decreased 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.09.

Park Hotels & Resorts Price Performance

PK stock opened at $14.19 on Monday. The company has a market capitalization of $2.93 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 0.80 and a beta of 2.02. Park Hotels & Resorts has a 52-week low of $13.23 and a 52-week high of $18.05. The business has a 50-day simple moving average of $14.38 and a two-hundred day simple moving average of $14.76. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results 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). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. During the same quarter last year, the company posted $0.51 EPS. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. Research analysts expect that Park Hotels & Resorts will post 2.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Park Hotels & Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new position in shares of Park Hotels & Resorts in the third quarter valued at $33,000. Venturi Wealth Management LLC grew its holdings in 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 valued at $54,000 after buying an additional 2,841 shares in the last quarter. Quarry LP increased its position in shares of Park Hotels & Resorts by 82.1% during 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 purchased a new stake in shares of Park Hotels & Resorts in the third quarter worth about $69,000. Finally, Covestor Ltd boosted its position in shares of Park Hotels & Resorts by 64.8% in 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 during the period. 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.