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

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

Several other research firms have also recently weighed in on PK. Jefferies Financial Group cut their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Compass Point dropped their target price 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. Bank of America decreased 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 report on Monday, October 21st. Wells Fargo & Company lifted their price target on Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Finally, Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Park Hotels & Resorts has a consensus rating of “Hold” and an average price target of $18.65.

Park Hotels & Resorts Stock Down 1.6 %

NYSE PK opened at $13.97 on Tuesday. The stock has a market capitalization of $2.88 billion, a P/E ratio of 8.90, a price-to-earnings-growth ratio of 6.90 and a beta of 2.02. 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 has a 52 week low of $13.23 and a 52 week high of $18.05. The stock has a fifty day moving average of $14.87 and a 200-day moving average of $14.62.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.21). The firm had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. On average, equities research analysts forecast that Park Hotels & Resorts will post 1.96 EPS for the current year.

Institutional Investors Weigh In On Park Hotels & Resorts

Several institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new position in shares of Park Hotels & Resorts during the 3rd quarter valued at about $33,000. Venturi Wealth Management LLC increased its position in shares of Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,841 shares during the last quarter. Quarry LP lifted its position in shares of Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 1,857 shares during the last quarter. Claro Advisors LLC acquired a new position in shares of Park Hotels & Resorts during the third quarter worth $69,000. Finally, Covestor Ltd increased its holdings in 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 buying an additional 2,711 shares during the last quarter. Hedge funds and other 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.