Park Hotels & Resorts (NYSE:PK) Cut to Sell at Zacks Investment Research

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Park Hotels & Resorts (NYSE:PK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Park Hotels & Resorts Inc. is a lodging Real Estate Company. The company operates luxury hotels and resorts in USA and international market. Park Hotels & Resorts Inc. is based in Mc Lean, Virginia. “

Other equities analysts also recently issued research reports about the stock. Citigroup reduced their target price on shares of Park Hotels & Resorts from $31.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Deutsche Bank set a $33.00 target price on shares of Park Hotels & Resorts and gave the stock a “hold” rating in a research note on Wednesday, July 31st. BMO Capital Markets assumed coverage on shares of Park Hotels & Resorts in a research note on Wednesday. They issued a “market perform” rating and a $25.00 target price for the company. Barclays reiterated an “overweight” rating and issued a $30.00 target price on shares of Park Hotels & Resorts in a research note on Friday, September 27th. Finally, Nomura reduced their target price on shares of Park Hotels & Resorts from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $28.83.

NYSE PK opened at $22.69 on Friday. The company has a market capitalization of $4.71 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.74 and a current ratio of 1.74. The company has a 50-day simple moving average of $24.48 and a 200 day simple moving average of $27.35. Park Hotels & Resorts has a 52-week low of $22.46 and a 52-week high of $33.02.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.42). The business had revenue of $703.00 million during the quarter, compared to analysts’ expectations of $694.08 million. Park Hotels & Resorts had a return on equity of 5.06% and a net margin of 10.52%. Park Hotels & Resorts’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. As a group, analysts forecast that Park Hotels & Resorts will post 2.88 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in PK. Cohen & Steers Inc. boosted its position in shares of Park Hotels & Resorts by 9.5% in the second quarter. Cohen & Steers Inc. now owns 25,308,847 shares of the financial services provider’s stock valued at $697,512,000 after acquiring an additional 2,199,863 shares during the period. Schroder Investment Management Group boosted its position in shares of Park Hotels & Resorts by 436.5% in the second quarter. Schroder Investment Management Group now owns 2,435,831 shares of the financial services provider’s stock valued at $67,132,000 after acquiring an additional 1,981,779 shares during the period. Brookfield Asset Management Inc. boosted its position in shares of Park Hotels & Resorts by 39.8% in the second quarter. Brookfield Asset Management Inc. now owns 6,036,967 shares of the financial services provider’s stock valued at $166,379,000 after acquiring an additional 1,720,152 shares during the period. APG Asset Management N.V. boosted its position in shares of Park Hotels & Resorts by 76.2% in the second quarter. APG Asset Management N.V. now owns 3,335,600 shares of the financial services provider’s stock valued at $80,725,000 after acquiring an additional 1,443,000 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Park Hotels & Resorts by 4.9% in the second quarter. BlackRock Inc. now owns 22,543,403 shares of the financial services provider’s stock valued at $621,297,000 after acquiring an additional 1,053,929 shares during the period.

About Park Hotels & Resorts

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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