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

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

Several other analysts also recently commented on the stock. Jefferies Financial Group dropped their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Compass Point cut their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. UBS Group reduced their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Bank of America reduced their price target on 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. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.15.

Park Hotels & Resorts Stock Performance

Shares of Park Hotels & Resorts stock traded up $0.13 on Tuesday, reaching $13.01. 152,618 shares of the stock were exchanged, compared to its average volume of 3,252,165. Park Hotels & Resorts has a twelve month low of $12.56 and a twelve month high of $18.05. The business has a 50 day moving average price of $13.96 and a two-hundred day moving average price of $14.34. The company has a quick ratio of 1.51, a current 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.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its position in shares of Park Hotels & Resorts by 1,068.6% during the 3rd quarter. Creative Planning now owns 306,061 shares of the financial services provider’s stock worth $4,315,000 after purchasing an additional 279,871 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Park Hotels & Resorts by 19.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,708 shares of the financial services provider’s stock worth $602,000 after buying an additional 6,986 shares during the period. Claro Advisors LLC acquired a new stake in Park Hotels & Resorts in the 3rd quarter valued at approximately $69,000. Allspring Global Investments Holdings LLC lifted its stake in Park Hotels & Resorts by 488.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider’s stock worth $1,177,000 after purchasing an additional 69,296 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Park Hotels & Resorts by 1,310.0% during the third quarter. International Assets Investment Management LLC now owns 21,785 shares of the financial services provider’s stock worth $307,000 after buying an additional 20,240 shares during the period. 92.69% of the stock is owned by hedge funds and other 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.