Truist Financial Has Lowered Expectations for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK) had its target price reduced by Truist Financial from $18.00 to $16.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 38.23% from the company’s current price.

Several other research analysts have also issued reports on the stock. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Jefferies Financial Group dropped 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 report on Thursday, January 2nd. Wells Fargo & Company dropped their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Finally, UBS Group dropped their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Hold” and a consensus price target of $17.95.

Park Hotels & Resorts Stock Down 1.1 %

NYSE PK opened at $11.58 on Friday. Park Hotels & Resorts has a twelve month low of $10.87 and a twelve month high of $18.05. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The stock has a market cap of $2.34 billion, a PE ratio of 11.46, a PEG ratio of 1.51 and a beta of 2.02. The firm has a 50-day simple moving average of $12.78 and a 200 day simple moving average of $13.97.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The business had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. On average, research analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current year.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of PK. Norges Bank bought a new position in Park Hotels & Resorts in the fourth quarter valued at approximately $41,087,000. Deutsche Bank AG boosted its stake in Park Hotels & Resorts by 809.3% in the fourth quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider’s stock valued at $33,988,000 after acquiring an additional 2,149,972 shares during the last quarter. Landmark Investment Partners L.P. bought a new position in Park Hotels & Resorts in the fourth quarter valued at approximately $21,342,000. Invesco Ltd. boosted its stake in Park Hotels & Resorts by 84.0% in the fourth quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider’s stock valued at $39,929,000 after acquiring an additional 1,295,548 shares during the last quarter. Finally, Donald Smith & CO. Inc. boosted its stake in Park Hotels & Resorts by 13.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider’s stock valued at $129,446,000 after acquiring an additional 1,122,839 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

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.