Park Hotels & Resorts Inc. (NYSE:PK) Receives $18.09 Consensus Target Price from Brokerages

Park Hotels & Resorts Inc. (NYSE:PK) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $18.09.

A number of equities research analysts have issued reports on PK shares. 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. Wolfe Research cut Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Wells Fargo & Company dropped their price objective on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Friday, September 13th. Truist Financial dropped their target price on 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. Finally, Bank of America reduced their price target 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.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Blue Zone Wealth Advisors LLC boosted its holdings in Park Hotels & Resorts by 0.4% in the second quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider’s stock worth $3,786,000 after acquiring an additional 883 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Park Hotels & Resorts by 2.1% in the second quarter. Arizona State Retirement System now owns 58,940 shares of the financial services provider’s stock worth $883,000 after acquiring an additional 1,232 shares during the period. Bfsg LLC grew its holdings in Park Hotels & Resorts by 8.7% during the 3rd quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock valued at $218,000 after buying an additional 1,235 shares in the last quarter. Kendall Capital Management increased its holdings in Park Hotels & Resorts by 11.0% during the 2nd quarter. Kendall Capital Management now owns 15,095 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 1,500 shares during the period. Finally, United Services Automobile Association increased its holdings in shares of Park Hotels & Resorts by 10.5% in the second quarter. United Services Automobile Association now owns 15,826 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 1,509 shares during the period. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Price Performance

NYSE:PK opened at $14.75 on Tuesday. Park Hotels & Resorts has a 52-week low of $13.23 and a 52-week high of $18.05. The firm has a market cap of $3.04 billion, a P/E ratio of 9.39, a PEG ratio of 0.79 and a beta of 2.02. The business’s 50-day moving average price is $14.39 and its 200 day moving average price is $14.76. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data 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 firm had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 EPS. As a group, sell-side analysts predict that Park Hotels & Resorts will post 2.09 earnings per share for the current fiscal year.

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.