Bank of America Cuts Park Hotels & Resorts (NYSE:PK) Price Target to $16.50

Park Hotels & Resorts (NYSE:PK) had its price target decreased by stock analysts at Bank of America from $17.00 to $16.50 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price objective indicates a potential upside of 16.77% from the stock’s previous close.

A number of other brokerages have also weighed in on PK. Truist Financial decreased their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Wells Fargo & Company decreased their price objective on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Evercore ISI dropped their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Monday, October 14th. Finally, UBS Group lowered their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.00.

Park Hotels & Resorts Price Performance

NYSE:PK traded up $0.14 during mid-day trading on Monday, hitting $14.13. 1,109,950 shares of the stock traded hands, compared to its average volume of 2,694,933. The business’s 50-day moving average price is $14.48 and its 200 day moving average price is $15.13. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.23. The company has a market cap of $2.98 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 0.70 and a beta of 2.02. Park Hotels & Resorts has a 12-month low of $11.05 and a 12-month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). The firm had revenue of $686.00 million for the quarter, compared to analysts’ expectations of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. On average, analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of PK. Fidelis Capital Partners LLC purchased a new position in Park Hotels & Resorts in the 1st quarter worth approximately $26,000. Quarry LP raised its holdings in Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,857 shares during the last quarter. Claro Advisors LLC bought a new stake in Park Hotels & Resorts during the 3rd quarter valued at $69,000. FinTrust Capital Advisors LLC boosted its position in Park Hotels & Resorts by 260.5% during the 1st quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock valued at $89,000 after buying an additional 3,668 shares during the period. Finally, EntryPoint Capital LLC grew its holdings in Park Hotels & Resorts by 53.5% in the 1st quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 2,260 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.