Park Hotels & Resorts (NYSE:PK) Given New $13.00 Price Target at Truist Financial

Park Hotels & Resorts (NYSE:PK) had its price objective upped by research analysts at Truist Financial from $12.00 to $13.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target would suggest a potential upside of 10.36% from the stock’s previous close.

PK has been the subject of a number of other reports. Wall Street Zen raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. Barclays reissued an “equal weight” rating and set a $9.00 price objective (down from $13.00) on shares of Park Hotels & Resorts in a report on Tuesday, April 7th. JPMorgan Chase & Co. boosted their price objective on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 3rd. Wells Fargo & Company decreased their price objective on Park Hotels & Resorts from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. Finally, Weiss Ratings raised Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Reduce” and a consensus target price of $11.65.

Park Hotels & Resorts Stock Up 2.3%

PK stock traded up $0.27 during trading on Tuesday, reaching $11.78. 1,707,418 shares of the stock were exchanged, compared to its average volume of 4,116,167. The firm’s 50 day moving average is $10.94 and its 200 day moving average is $10.94. Park Hotels & Resorts has a twelve month low of $9.84 and a twelve month high of $12.39. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27. The firm has a market cap of $2.37 billion, a P/E ratio of -10.81, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). The firm had revenue of $622.00 million for the quarter, compared to analyst estimates of $609.78 million. Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, research analysts forecast that Park Hotels & Resorts will post 1.74 EPS for the current year.

Hedge Funds Weigh In On Park Hotels & Resorts

Several institutional investors have recently modified their holdings of PK. Danske Bank A S bought a new position in shares of Park Hotels & Resorts in the third quarter valued at approximately $25,000. Fifth Third Bancorp grew its holdings in shares of Park Hotels & Resorts by 68.8% in the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,061 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Park Hotels & Resorts in the third quarter valued at approximately $34,000. Clearstead Advisors LLC grew its holdings in shares of Park Hotels & Resorts by 326.4% in the third quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 2,448 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Park Hotels & Resorts by 293.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 3,863 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.