Park Hotels & Resorts (NYSE:PK) Now Covered by Analysts at StockNews.com

Posted by Defense World Staff on Oct 6th, 2023

Research analysts at StockNews.com began coverage on shares of Park Hotels & Resorts (NYSE:PK – Get Free Report) in a research report issued on Thursday. The firm set a “sell” rating on the financial services provider’s stock.

A number of other analysts have also recently commented on the stock. Wedbush started coverage on shares of Park Hotels & Resorts in a report on Tuesday. They set a “neutral” rating and a $13.00 target price on the stock. Wolfe Research started coverage on shares of Park Hotels & Resorts in a report on Wednesday, September 27th. They set an “outperform” rating and a $16.00 target price on the stock. Morgan Stanley dropped their target price on shares of Park Hotels & Resorts from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, August 25th. Barclays dropped their target price on shares of Park Hotels & Resorts from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, July 27th. Finally, Truist Financial dropped their target price on shares of Park Hotels & Resorts from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, September 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Hold” and a consensus target price of $16.78.

Check Out Our Latest Analysis on PK

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $12.03 on Thursday. The stock has a market cap of $2.60 billion, a P/E ratio of -48.12, a price-to-earnings-growth ratio of 0.77 and a beta of 1.90. The firm’s fifty day simple moving average is $12.75 and its 200 day simple moving average is $12.74. Park Hotels & Resorts has a twelve month low of $10.70 and a twelve month high of $15.38. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 1.12.

Park Hotels & Resorts (NYSE:PK – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported ($0.70) earnings per share for the quarter, missing the consensus estimate of $0.58 by ($1.28). The company had revenue of $714.00 million during the quarter, compared to the consensus estimate of $725.05 million. Park Hotels & Resorts had a negative net margin of 1.79% and a negative return on equity of 1.14%. As a group, research analysts predict that Park Hotels & Resorts will post 1.86 EPS for the current year.

Insider Transactions at Park Hotels & Resorts

In other news, Director Geoffrey Garrett sold 14,000 shares of Park Hotels & Resorts stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $12.83, for a total value of $179,620.00. Following the completion of the transaction, the director now owns 31,777 shares of the company’s stock, valued at approximately $407,698.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of hedge funds have recently bought and sold shares of PK. MetLife Investment Management LLC raised its position in Park Hotels & Resorts by 33.4% in the 1st quarter. MetLife Investment Management LLC now owns 152,902 shares of the financial services provider’s stock worth $2,986,000 after buying an additional 38,302 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Park Hotels & Resorts by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 86,667 shares of the financial services provider’s stock valued at $1,693,000 after purchasing an additional 8,263 shares during the period. BlackRock Inc. grew its stake in shares of Park Hotels & Resorts by 0.6% during the 1st quarter. BlackRock Inc. now owns 29,740,571 shares of the financial services provider’s stock valued at $580,834,000 after purchasing an additional 182,269 shares during the period. APG Asset Management N.V. bought a new stake in shares of Park Hotels & Resorts during the 1st quarter valued at about $857,000. Finally, Great West Life Assurance Co. Can grew its stake in shares of Park Hotels & Resorts by 5.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 328,319 shares of the financial services provider’s stock valued at $6,628,000 after purchasing an additional 16,107 shares during the period. Hedge funds and other institutional investors own 91.40% of the company’s stock.

Park Hotels & Resorts Company Profile

(Get Free Report)

Park is one of the largest publicly-traded lodging REITs with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 45 premium-branded hotels and resorts with over 29,000 rooms primarily located in prime city center and resort locations.