Park Hotels & Resorts (NYSE:PK) Cut to “Sell” at StockNews.com

Park Hotels & Resorts (NYSE:PK) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

PK has been the subject of a number of other research reports. Barclays boosted their target price on Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Jefferies Financial Group upgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $21.00 in a research report on Tuesday, January 2nd. Citigroup upgraded Park Hotels & Resorts from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $20.00 in a research report on Friday, March 22nd. Wells Fargo & Company boosted their target price on Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Finally, Truist Financial upped their price objective on Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.58.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $16.35 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $3.44 billion, a P/E ratio of 35.54, a P/E/G ratio of 0.61 and a beta of 2.03. The business’s fifty day moving average is $16.78 and its two-hundred day moving average is $15.33. Park Hotels & Resorts has a 52 week low of $11.05 and a 52 week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data 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. The company had revenue of $657.00 million for 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%. Equities research analysts forecast that Park Hotels & Resorts will post 2.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Park Hotels & Resorts

Several large investors have recently modified their holdings of PK. Vanguard Group Inc. boosted its position in shares of Park Hotels & Resorts by 1.1% during 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 period. Donald Smith & CO. Inc. boosted its position in shares of Park Hotels & Resorts by 36.0% during the fourth quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider’s stock worth $99,904,000 after buying an additional 1,728,921 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Park Hotels & Resorts by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,741,521 shares of the financial services provider’s stock worth $41,945,000 after buying an additional 13,473 shares during the period. Private Management Group Inc. boosted its position in shares of Park Hotels & Resorts by 16.6% during the third quarter. Private Management Group Inc. now owns 2,212,651 shares of the financial services provider’s stock worth $27,260,000 after buying an additional 314,386 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in shares of Park Hotels & Resorts by 601.1% during the first quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock worth $36,921,000 after buying an additional 1,809,886 shares during the period. 92.69% of the stock is currently owned by institutional investors.

About Park Hotels & Resorts

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.