Park Hotels & Resorts Inc. (NYSE:PK) Receives $11.27 Consensus Target Price from Analysts

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have been assigned a consensus rating of “Reduce” from the thirteen analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $11.2727.

PK has been the subject of several recent research reports. Morgan Stanley set a $10.00 target price on shares of Park Hotels & Resorts in a research note on Friday, January 16th. Zacks Research downgraded shares of Park Hotels & Resorts from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 14th. Wells Fargo & Company reduced their price objective on shares of Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, December 1st. Truist Financial dropped their target price on Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, February 3rd. Finally, Barclays started coverage on Park Hotels & Resorts in a report on Tuesday, January 6th. They issued an “overweight” rating and a $13.00 price target for the company.

Insider Buying and Selling

In related news, Director Christie B. Kelly bought 2,949 shares of Park Hotels & Resorts stock in a transaction on Wednesday, January 14th. The stock was acquired at an average price of $11.19 per share, with a total value of $32,999.31. Following the acquisition, the director directly owned 150,501 shares of the company’s stock, valued at $1,684,106.19. This represents a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Park Hotels & Resorts

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Securities Inc. grew its holdings in shares of Park Hotels & Resorts by 9.5% during the fourth quarter. Principal Securities Inc. now owns 10,684 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 927 shares in the last quarter. California State Teachers Retirement System lifted its position in Park Hotels & Resorts by 0.5% during the second quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock valued at $1,969,000 after purchasing an additional 968 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Park Hotels & Resorts by 0.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 125,051 shares of the financial services provider’s stock worth $1,386,000 after buying an additional 1,038 shares in the last quarter. Optas LLC grew its stake in Park Hotels & Resorts by 12.8% in the 4th quarter. Optas LLC now owns 11,389 shares of the financial services provider’s stock worth $119,000 after buying an additional 1,295 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Park Hotels & Resorts by 33.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock worth $61,000 after buying an additional 1,464 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Down 1.9%

Shares of NYSE PK opened at $11.21 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $2.24 billion, a PE ratio of -160.07 and a beta of 1.45. Park Hotels & Resorts has a one year low of $8.27 and a one year high of $13.22. The business’s fifty day moving average price is $11.05 and its 200-day moving average price is $11.03.

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.