Park Hotels & Resorts (NYSE:PK – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Saturday.
Several other research firms also recently weighed in on PK. Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $20.00 in a report on Friday, March 22nd. Truist Financial upped their price target on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Jefferies Financial Group upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and raised their price objective for the company from $14.00 to $21.00 in a research note on Tuesday, January 2nd. UBS Group boosted their target price on Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Finally, Wells Fargo & Company increased their price target on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts presently has an average rating of “Hold” and an average target price of $17.58.
Get Our Latest Stock Analysis on Park Hotels & Resorts
Park Hotels & Resorts Price Performance
Park Hotels & Resorts (NYSE:PK – Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. The business had revenue of $657.00 million during the quarter, compared to analyst estimates of $665.16 million. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. Analysts anticipate that Park Hotels & Resorts will post 2 earnings per share for the current year.
Institutional Investors Weigh In On Park Hotels & Resorts
Several hedge funds have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Park Hotels & Resorts by 18.2% during the 3rd quarter. FMR LLC now owns 884,843 shares of the financial services provider’s stock valued at $10,901,000 after purchasing an additional 136,434 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Park Hotels & Resorts by 1.1% in the third quarter. Vanguard Group Inc. now owns 33,109,654 shares of the financial services provider’s stock worth $407,911,000 after buying an additional 347,812 shares during the last quarter. Landscape Capital Management L.L.C. boosted its stake in shares of Park Hotels & Resorts by 136.4% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 67,690 shares of the financial services provider’s stock worth $834,000 after acquiring an additional 39,062 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Park Hotels & Resorts by 200.0% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the financial services provider’s stock worth $11,088,000 after acquiring an additional 600,000 shares in the last quarter. Finally, Hudson Bay Capital Management LP increased its holdings in shares of Park Hotels & Resorts by 238.5% during the 3rd quarter. Hudson Bay Capital Management LP now owns 530,217 shares of the financial services provider’s stock valued at $6,532,000 after acquiring an additional 373,600 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.
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.
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