Park Hotels & Resorts (NYSE:PK) Given New $15.00 Price Target at UBS Group

Park Hotels & Resorts (NYSE:PKGet Rating) had its target price cut by UBS Group to $15.00 in a research report released on Tuesday, Stock Target Advisor reports.

Other analysts have also recently issued research reports about the stock. Truist Financial upgraded shares of Park Hotels & Resorts from a hold rating to a buy rating and upped their price objective for the company from $19.00 to $22.00 in a research report on Wednesday, June 1st. StockNews.com raised shares of Park Hotels & Resorts from a sell rating to a hold rating in a research note on Friday, August 5th. Evercore ISI reaffirmed an in-line rating and issued a $22.50 target price on shares of Park Hotels & Resorts in a research note on Monday, July 11th. Wells Fargo & Company raised shares of Park Hotels & Resorts from an equal weight rating to an overweight rating and reduced their target price for the stock from $20.00 to $17.00 in a research note on Monday, August 29th. Finally, Sumitomo Mitsui Financial Group lowered shares of Park Hotels & Resorts from an outperform rating to a neutral rating and set a $16.00 target price for the company. in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $19.79.

Park Hotels & Resorts Stock Performance

PK stock opened at $13.69 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.26 and a quick ratio of 3.26. The company has a 50 day moving average price of $14.60 and a 200 day moving average price of $17.04. Park Hotels & Resorts has a fifty-two week low of $12.90 and a fifty-two week high of $21.62. The stock has a market capitalization of $3.19 billion, a PE ratio of -61.73 and a beta of 1.94.

Park Hotels & Resorts (NYSE:PKGet Rating) last issued its earnings results on Wednesday, August 3rd. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.47 by $0.19. The company had revenue of $695.00 million during the quarter, compared to analysts’ expectations of $661.19 million. Park Hotels & Resorts had a negative net margin of 2.93% and a negative return on equity of 1.38%. Analysts forecast that Park Hotels & Resorts will post 1.49 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.29%. Park Hotels & Resorts’s dividend payout ratio is currently -18.18%.

Insider Transactions at Park Hotels & Resorts

In other Park Hotels & Resorts news, Director Thomas D. Eckert purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, June 14th. The shares were bought at an average price of $15.12 per share, for a total transaction of $151,200.00. Following the completion of the acquisition, the director now owns 96,637 shares in the company, valued at $1,461,151.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of hedge funds have recently bought and sold shares of the company. Verition Fund Management LLC raised its stake in Park Hotels & Resorts by 250.3% during the second quarter. Verition Fund Management LLC now owns 171,411 shares of the financial services provider’s stock worth $2,326,000 after buying an additional 122,477 shares during the last quarter. Captrust Financial Advisors bought a new stake in Park Hotels & Resorts in the second quarter valued at $104,000. Legal & General Group Plc increased its stake in Park Hotels & Resorts by 1.7% in the second quarter. Legal & General Group Plc now owns 1,660,728 shares of the financial services provider’s stock valued at $22,536,000 after purchasing an additional 28,101 shares in the last quarter. ExodusPoint Capital Management LP increased its stake in Park Hotels & Resorts by 848.6% in the second quarter. ExodusPoint Capital Management LP now owns 130,667 shares of the financial services provider’s stock valued at $1,773,000 after purchasing an additional 116,893 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Park Hotels & Resorts by 29.7% in the second quarter. Goldman Sachs Group Inc. now owns 4,798,075 shares of the financial services provider’s stock valued at $65,109,000 after purchasing an additional 1,099,160 shares in the last quarter. Institutional investors own 91.73% of the company’s stock.

About Park Hotels & Resorts

(Get Rating)

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

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