Park Hotels & Resorts (NYSE:PK) Rating Lowered to “Sell” at StockNews.com

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

A number of other analysts also recently commented on the company. Truist Financial dropped their price objective on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Compass Point dropped their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Wells Fargo & Company lowered their price objective on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, Bank of America cut their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.58.

Park Hotels & Resorts Stock Up 5.0 %

Park Hotels & Resorts stock opened at $14.99 on Thursday. Park Hotels & Resorts has a one year low of $12.85 and a one year high of $18.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market capitalization of $3.09 billion, a P/E ratio of 9.54, a P/E/G ratio of 0.73 and a beta of 2.02. The company has a 50-day simple moving average of $14.35 and a 200-day simple moving average of $14.88.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The business had revenue of $649.00 million for the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. Park Hotels & Resorts’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the business posted $0.51 earnings per share. As a group, equities analysts expect that Park Hotels & Resorts will post 2.09 earnings per share for the current year.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds have recently made changes to their positions in PK. Fidelis Capital Partners LLC acquired a new stake in Park Hotels & Resorts during the 1st quarter worth about $26,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Park Hotels & Resorts in the third quarter worth approximately $33,000. Venturi Wealth Management LLC boosted its holdings in shares of Park Hotels & Resorts by 281.6% during the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 2,841 shares during the period. Quarry LP grew its position in 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 purchasing an additional 1,857 shares in the last quarter. Finally, Claro Advisors LLC purchased a new stake in Park Hotels & Resorts in the 3rd quarter worth approximately $69,000. Hedge funds and other 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.