Morgan Stanley Increases Park Hotels & Resorts (NYSE:PK) Price Target to $11.00

Park Hotels & Resorts (NYSE:PK) had its target price increased by investment analysts at Morgan Stanley from $10.50 to $11.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential downside of 26.03% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald restated a “neutral” rating and issued a $12.00 price target on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. BMO Capital Markets reiterated a “market perform” rating and set a $14.00 price target on shares of Park Hotels & Resorts in a research report on Friday, June 12th. Barclays raised their price objective on Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Wells Fargo & Company boosted their price objective on Park Hotels & Resorts from $12.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, June 18th. Finally, Weiss Ratings raised Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $13.00.

Park Hotels & Resorts Stock Performance

PK opened at $14.87 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a fifty day moving average price of $13.41 and a 200 day moving average price of $11.87. Park Hotels & Resorts has a 1 year low of $9.84 and a 1 year high of $14.95. The stock has a market cap of $2.99 billion, a P/E ratio of -13.64, a P/E/G ratio of 2.00 and a beta of 1.33.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The firm had revenue of $622.00 million for the quarter, compared to analysts’ expectations of $609.77 million. During the same period last year, the company posted $0.46 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Equities research analysts anticipate that Park Hotels & Resorts will post 1.76 earnings per share for the current year.

Institutional Investors Weigh In On Park Hotels & Resorts

Institutional investors have recently bought and sold shares of the company. Gradient Investments LLC increased its stake in Park Hotels & Resorts by 11.3% during the 2nd quarter. Gradient Investments LLC now owns 246,702 shares of the financial services provider’s stock worth $3,516,000 after buying an additional 24,982 shares in the last quarter. Chapin Davis Inc. raised its holdings in shares of Park Hotels & Resorts by 12.3% during the second quarter. Chapin Davis Inc. now owns 13,200 shares of the financial services provider’s stock valued at $188,000 after acquiring an additional 1,450 shares during the last quarter. Post Resch Tallon Group Inc. lifted its position in shares of Park Hotels & Resorts by 24.0% in the second quarter. Post Resch Tallon Group Inc. now owns 34,318 shares of the financial services provider’s stock valued at $489,000 after acquiring an additional 6,648 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Park Hotels & Resorts by 17.2% in the second quarter. GAMMA Investing LLC now owns 14,045 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 2,064 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Park Hotels & Resorts by 10.5% in the second quarter. Versant Capital Management Inc now owns 10,838 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 1,030 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.