Park Hotels & Resorts (NYSE:PK) Given New $17.00 Price Target at Wells Fargo & Company

Park Hotels & Resorts (NYSE:PK) had its target price raised by stock analysts at Wells Fargo & Company from $16.00 to $17.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 7.94% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. UBS Group increased their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Truist Financial dropped their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, Compass Point decreased their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.32.

Park Hotels & Resorts Price Performance

Shares of PK stock traded up $0.10 on Monday, hitting $15.75. 365,305 shares of the company’s stock were exchanged, compared to its average volume of 2,767,583. The stock has a market cap of $3.25 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 7.03 and a beta of 2.03. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The company has a 50 day moving average of $14.56 and a 200 day moving average of $14.70. Park Hotels & Resorts has a 12 month low of $13.23 and a 12 month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The firm had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. Park Hotels & Resorts’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. On average, equities research analysts predict that Park Hotels & Resorts will post 1.97 EPS for the current year.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its holdings in shares of Park Hotels & Resorts by 287.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after acquiring an additional 3,897,889 shares during the period. Jupiter Asset Management Ltd. boosted its position in shares of Park Hotels & Resorts by 286.9% during the second quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after purchasing an additional 1,925,850 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in Park Hotels & Resorts by 22.5% in the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after purchasing an additional 1,484,295 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Park Hotels & Resorts by 321.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock worth $19,875,000 after purchasing an additional 1,075,255 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Park Hotels & Resorts by 345.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider’s stock valued at $14,595,000 after buying an additional 802,939 shares during the period. 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.