Park Hotels & Resorts (NYSE:PK – Get Rating) had its price objective dropped by research analysts at Barclays from $22.00 to $18.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential upside of 30.72% from the company’s current price.
A number of other brokerages have also weighed in on PK. Deutsche Bank Aktiengesellschaft upped their target price on shares of Park Hotels & Resorts from $26.00 to $28.00 in a research note on Tuesday, May 3rd. Truist Financial raised shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and upped their target price for the stock from $19.00 to $22.00 in a research note on Wednesday, June 1st. Jefferies Financial Group cut shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and cut their price target for the stock from $25.00 to $19.00 in a research report on Wednesday, March 30th. Finally, StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.29.
Shares of PK stock opened at $13.77 on Thursday. Park Hotels & Resorts has a 12-month low of $12.90 and a 12-month high of $21.62. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -10.05 and a beta of 1.94. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.09. The firm has a fifty day moving average of $16.57 and a 200-day moving average of $18.08.
Park Hotels & Resorts (NYSE:PK – Get Rating) last announced its earnings results on Monday, May 2nd. The financial services provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.21). The company had revenue of $479.00 million during the quarter, compared to analyst estimates of $420.53 million. Park Hotels & Resorts had a negative return on equity of 7.37% and a negative net margin of 19.45%. Park Hotels & Resorts’s revenue for the quarter was up 190.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.48) earnings per share. Research analysts expect that Park Hotels & Resorts will post 1.48 earnings per share for the current year.
In other news, Director Thomas D. Eckert bought 10,000 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were bought at an average cost of $15.12 per share, with a total value of $151,200.00. Following the acquisition, the director now owns 96,637 shares in the company, valued at $1,461,151.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in Park Hotels & Resorts by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,394,099 shares of the financial services provider’s stock valued at $45,822,000 after acquiring an additional 19,976 shares during the period. Moors & Cabot Inc. bought a new position in Park Hotels & Resorts in the 3rd quarter valued at about $71,000. Crossmark Global Holdings Inc. raised its holdings in Park Hotels & Resorts by 5.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 19,831 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 1,080 shares during the period. Redpoint Investment Management Pty Ltd raised its holdings in Park Hotels & Resorts by 20.7% in the 4th quarter. Redpoint Investment Management Pty Ltd now owns 13,877 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 2,383 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Park Hotels & Resorts by 9.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,530 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 2,103 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.
About Park Hotels & Resorts (Get Rating)
Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.
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