Park Hotels & Resorts (NYSE:PK) Upgraded by StockNews.com to Hold Rating

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

A number of other equities research analysts have also recently issued reports on the stock. Compass Point cut their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company upped their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. UBS Group boosted their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. 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. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts presently has an average rating of “Moderate Buy” and an average price target of $18.55.

Park Hotels & Resorts Trading Down 4.4 %

NYSE PK opened at $14.07 on Monday. The stock’s 50-day simple moving average is $14.86 and its two-hundred day simple moving average is $14.65. Park Hotels & Resorts has a twelve month low of $13.23 and a twelve month high of $18.05. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 6.90 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The firm had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. Research analysts forecast that Park Hotels & Resorts will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Park Hotels & Resorts by 4.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,290 shares of the financial services provider’s stock worth $1,368,000 after purchasing an additional 4,072 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Park Hotels & Resorts by 263.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 75,142 shares of the financial services provider’s stock worth $1,126,000 after buying an additional 54,473 shares during the period. Van ECK Associates Corp boosted its position in Park Hotels & Resorts by 6.5% during the 2nd quarter. Van ECK Associates Corp now owns 32,010 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 1,954 shares in the last quarter. Natixis Advisors LLC purchased a new position in shares of Park Hotels & Resorts during the 2nd quarter worth approximately $225,000. Finally, Versor Investments LP raised its position in shares of Park Hotels & Resorts by 11.7% in the 2nd quarter. Versor Investments LP now owns 32,100 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 3,358 shares in the last quarter. 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.