Park Hotels & Resorts (NYSE:PK) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Park Hotels & Resorts (NYSE:PK) to a hold rating in a report released on Thursday,Zacks.com reports.

A number of other research firms have also recently weighed in on PK. Barclays upped their target price on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $12.00 price objective on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. Morgan Stanley upped their price objective on Park Hotels & Resorts from $10.50 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. LADENBURG THALM/SH SH increased their target price on Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Finally, BMO Capital Markets restated a “market perform” rating and set a $14.00 target price on shares of Park Hotels & Resorts in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $13.18.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK opened at $14.76 on Thursday. The business has a fifty day simple moving average of $13.81 and a 200 day simple moving average of $12.02. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -13.54, a PEG ratio of 1.95 and a beta of 1.33. Park Hotels & Resorts has a one year low of $9.84 and a one year high of $15.16.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). The business had revenue of $622.00 million for the quarter, compared to analyst estimates of $609.77 million. Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Sell-side analysts expect that Park Hotels & Resorts will post 1.79 EPS for the current year.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PK. Principal Securities Inc. raised its position in Park Hotels & Resorts by 9.5% in the 4th quarter. Principal Securities Inc. now owns 10,684 shares of the financial services provider’s stock valued at $112,000 after buying an additional 927 shares during the last quarter. California State Teachers Retirement System boosted its position in Park Hotels & Resorts by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock worth $1,969,000 after acquiring an additional 968 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Park Hotels & Resorts by 10.5% during the 2nd quarter. Versant Capital Management Inc now owns 10,838 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 1,030 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Park Hotels & Resorts by 68.8% during the 1st quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,061 shares in the last quarter. Finally, Caitlin John LLC grew its stake in shares of Park Hotels & Resorts by 4.6% during the 4th quarter. Caitlin John LLC now owns 24,774 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 1,100 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

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.