UBS Group Increases Park Hotels & Resorts (NYSE:PK) Price Target to $15.00

Park Hotels & Resorts (NYSE:PK) had its target price upped by equities researchers at UBS Group from $14.00 to $15.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective suggests a potential upside of 4.75% from the company’s previous close.

Several other brokerages have also recently commented on PK. Wells Fargo & Company reduced their price objective on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Evercore ISI decreased their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Truist Financial lowered their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Bank of America lowered their target price on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.09.

Park Hotels & Resorts Price Performance

Shares of PK opened at $14.32 on Monday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock’s 50 day moving average is $14.36 and its two-hundred day moving average is $14.77. Park Hotels & Resorts has a twelve month low of $13.23 and a twelve month high of $18.05. The firm has a market capitalization of $2.96 billion, a PE ratio of 9.00, a P/E/G ratio of 0.80 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The business had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. Research analysts anticipate that Park Hotels & Resorts will post 2.09 earnings per share for the current year.

Institutional Investors Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its stake in Park Hotels & Resorts by 287.7% in the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock valued at $77,217,000 after purchasing an additional 3,897,889 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in Park Hotels & Resorts by 286.9% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after buying an additional 1,925,850 shares during the period. Donald Smith & CO. Inc. increased its stake in shares of Park Hotels & Resorts by 22.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after acquiring an additional 1,484,295 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Park Hotels & Resorts by 321.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock worth $19,875,000 after acquiring an additional 1,075,255 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Park Hotels & Resorts by 345.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider’s stock worth $14,595,000 after acquiring an additional 802,939 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other 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.