UBS Group Cuts Park Hotels & Resorts (NYSE:PK) Price Target to $13.00

Park Hotels & Resorts (NYSE:PK) had its price objective reduced by stock analysts at UBS Group from $15.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price target indicates a potential downside of 0.78% from the company’s current price.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group cut their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Bank of America dropped their price objective 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 target price on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, Compass Point lowered their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.45.

Park Hotels & Resorts Trading Up 0.0 %

Shares of PK opened at $13.10 on Monday. Park Hotels & Resorts has a twelve month low of $12.80 and a twelve month high of $18.05. The firm has a market capitalization of $2.70 billion, a P/E ratio of 8.35 and a beta of 2.00. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $14.45 and its 200 day simple moving average is $14.46.

Hedge Funds Weigh In On Park Hotels & Resorts

Several institutional investors and hedge funds have recently made changes to their positions in PK. Harbor Capital Advisors Inc. acquired a new stake in Park Hotels & Resorts in the third quarter valued at $33,000. Venturi Wealth Management LLC raised its stake 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 in the last quarter. Claro Advisors LLC bought a new position in shares of Park Hotels & Resorts during the third quarter worth about $69,000. Covestor Ltd lifted its position in shares of Park Hotels & Resorts by 64.8% during the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 2,711 shares during the last quarter. Finally, KBC Group NV grew its stake in Park Hotels & Resorts by 34.4% in the third quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 1,882 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.