Park Hotels & Resorts (NYSE:PK) Upgraded to Hold by StockNews.com

Park Hotels & Resorts (NYSE:PK) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other equities analysts have also recently commented on PK. Barclays lifted their price target on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Wells Fargo & Company lifted their price target on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. UBS Group lifted their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $20.00 in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Park Hotels & Resorts from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $11.00 to $16.00 in a report on Thursday, December 14th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Park Hotels & Resorts has a consensus rating of “Hold” and an average price target of $17.58.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK traded up $0.37 on Wednesday, reaching $17.65. The company’s stock had a trading volume of 2,320,860 shares, compared to its average volume of 2,977,124. Park Hotels & Resorts has a 52-week low of $11.05 and a 52-week high of $18.05. The company has a market cap of $3.72 billion, a P/E ratio of 38.37, a PEG ratio of 0.68 and a beta of 2.02. The company has a 50-day simple moving average of $16.22 and a 200 day simple moving average of $14.72. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.30 and a current ratio of 1.30.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. The firm had revenue of $657.00 million during the quarter, compared to analysts’ expectations of $665.16 million. As a group, equities research analysts anticipate that Park Hotels & Resorts will post 2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in Park Hotels & Resorts during the 4th quarter worth approximately $27,000. Quarry LP purchased a new stake in Park Hotels & Resorts during the 4th quarter worth approximately $29,000. Raleigh Capital Management Inc. purchased a new stake in Park Hotels & Resorts during the 4th quarter worth approximately $35,000. FNY Investment Advisers LLC purchased a new stake in Park Hotels & Resorts during the 4th quarter worth approximately $42,000. Finally, Spire Wealth Management grew its position in Park Hotels & Resorts by 20.1% during the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 860 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.