Park Hotels & Resorts (NYSE:PK) Price Target Lowered to $14.00 at Wells Fargo & Company

Park Hotels & Resorts (NYSE:PK) had its price objective dropped by investment analysts at Wells Fargo & Company from $17.00 to $14.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 7.62% from the company’s previous close.

Several other brokerages have also recently weighed in on PK. Compass Point reduced 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 report on Thursday, October 31st. Jefferies Financial Group decreased 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. UBS Group cut their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Bank of America cut their target price 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. Finally, StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $18.15.

Park Hotels & Resorts Stock Up 1.0 %

NYSE:PK traded up $0.13 during midday trading on Tuesday, reaching $13.01. The company had a trading volume of 152,618 shares, compared to its average volume of 3,252,165. 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 firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 8.25 and a beta of 2.00. The stock’s fifty day simple moving average is $13.96 and its 200-day simple moving average is $14.34. Park Hotels & Resorts has a 12-month low of $12.56 and a 12-month high of $18.05.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds have recently made changes to their positions in PK. Wealth Enhancement Advisory Services LLC raised its stake in Park Hotels & Resorts by 0.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock valued at $1,128,000 after acquiring an additional 752 shares during the last quarter. Assetmark Inc. raised its stake in shares of Park Hotels & Resorts by 3.4% during the fourth quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 764 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Park Hotels & Resorts by 7.3% in the 4th quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider’s stock valued at $168,000 after buying an additional 813 shares during the last quarter. Xponance Inc. increased its stake in Park Hotels & Resorts by 3.8% in the 4th quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock valued at $347,000 after buying an additional 892 shares during the period. Finally, Cascade Investment Advisors Inc. raised its position in Park Hotels & Resorts by 1.3% during the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock worth $1,034,000 after buying an additional 915 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.