JPMorgan Chase & Co. Issues Positive Forecast for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK) had its price objective upped by JPMorgan Chase & Co. from $10.00 to $11.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley set a $10.00 target price on shares of Park Hotels & Resorts in a report on Friday, January 16th. Wells Fargo & Company reduced their price objective on Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, December 1st. Barclays began coverage on Park Hotels & Resorts in a research report on Tuesday, January 6th. They issued an “overweight” rating and a $13.00 target price for the company. Weiss Ratings upgraded Park Hotels & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Finally, Evercore ISI decreased their price target on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday, November 20th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Reduce” and a consensus price target of $11.27.

Park Hotels & Resorts Stock Up 1.1%

PK opened at $11.06 on Tuesday. The company has a market cap of $2.21 billion, a PE ratio of -158.06 and a beta of 1.45. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.04 and a current ratio of 1.04. Park Hotels & Resorts has a 1 year low of $8.27 and a 1 year high of $13.30. The firm has a 50 day moving average price of $10.92 and a 200 day moving average price of $11.01.

Insider Activity

In related news, Director Christie B. Kelly bought 2,949 shares of the business’s stock in a transaction dated Wednesday, January 14th. The shares were acquired at an average price of $11.19 per share, for a total transaction of $32,999.31. Following the purchase, the director owned 150,501 shares in the company, valued at $1,684,106.19. This trade represents a 2.00% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Park Hotels & Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the company. Danske Bank A S acquired a new position in shares of Park Hotels & Resorts in the 3rd quarter worth approximately $25,000. Parvin Asset Management LLC bought a new position in Park Hotels & Resorts during the second quarter worth $26,000. Bessemer Group Inc. boosted its holdings in Park Hotels & Resorts by 359.3% in the second quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 2,411 shares during the period. Advisory Services Network LLC acquired a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at about $34,000. Finally, IFP Advisors Inc lifted its holdings in Park Hotels & Resorts by 469.0% in the second quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 2,856 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.