Park Hotels & Resorts (NYSE:PK) Rating Lowered to In-Line at Evercore ISI

Park Hotels & Resorts (NYSE:PK) was downgraded by investment analysts at Evercore ISI from an “outperform” rating to an “in-line” rating in a report released on Friday, Marketbeat.com reports. They currently have a $13.00 target price on the financial services provider’s stock. Evercore ISI’s target price indicates a potential upside of 19.51% from the company’s previous close.

Several other brokerages have also recently issued reports on PK. Jefferies Financial Group cut Park Hotels & Resorts from a “buy” rating to a “hold” rating and dropped their price target for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. Truist Financial dropped their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company dropped their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Morgan Stanley dropped their price target on Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Finally, StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.60.

Park Hotels & Resorts Stock Up 0.4%

Park Hotels & Resorts stock opened at $10.88 on Friday. Park Hotels & Resorts has a fifty-two week low of $8.27 and a fifty-two week high of $16.42. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The company has a market capitalization of $2.17 billion, a P/E ratio of 10.77, a PEG ratio of 1.51 and a beta of 1.75. The stock has a 50-day simple moving average of $10.38 and a 200-day simple moving average of $12.74.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.05. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The business had revenue of $630.00 million during the quarter, compared to the consensus estimate of $620.17 million. During the same period in the previous year, the business earned $0.52 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Equities research analysts expect that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Hedge Funds Weigh In On Park Hotels & Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. lifted its stake in shares of Park Hotels & Resorts by 3.4% during the 4th quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 764 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Park Hotels & Resorts by 7.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 813 shares during the period. Xponance Inc. lifted its stake in shares of Park Hotels & Resorts by 3.8% during the 4th quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 892 shares during the period. Cascade Investment Advisors Inc. lifted its stake in shares of Park Hotels & Resorts by 1.3% during the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock worth $1,034,000 after purchasing an additional 915 shares during the period. Finally, Asset Management One Co. Ltd. lifted its stake in shares of Park Hotels & Resorts by 0.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider’s stock worth $5,043,000 after purchasing an additional 1,011 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.