Park Hotels & Resorts (NYSE:PK) Upgraded at Zacks Investment Research

Park Hotels & Resorts (NYSE:PK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The brokerage currently has a $22.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.36% from the company’s current price.

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. “

A number of other research firms have also issued reports on PK. Truist raised Park Hotels & Resorts from a “sell” rating to a “hold” rating and set a $18.00 price target on the stock in a research report on Tuesday, August 17th. Deutsche Bank Aktiengesellschaft raised Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Wednesday, July 14th. Truist Securities upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a report on Tuesday, August 17th. BMO Capital Markets reiterated a “buy” rating on shares of Park Hotels & Resorts in a report on Friday, August 13th. Finally, Evercore ISI upgraded Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a report on Monday, July 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $18.39.

PK opened at $19.07 on Wednesday. The stock’s 50-day moving average price is $18.62 and its 200 day moving average price is $20.51. Park Hotels & Resorts has a 12-month low of $8.85 and a 12-month high of $24.67. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.12. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of -5.63 and a beta of 2.22.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Thursday, August 5th. The financial services provider reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.20). Park Hotels & Resorts had a negative return on equity of 16.74% and a negative net margin of 114.31%. The firm had revenue of $323.00 million for the quarter, compared to analyst estimates of $258.94 million. On average, research analysts forecast that Park Hotels & Resorts will post -0.9 earnings per share for the current year.

In related news, Director Thomas D. Eckert acquired 10,000 shares of the firm’s stock in a transaction on Friday, August 20th. The stock was bought at an average cost of $17.73 per share, with a total value of $177,300.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.98% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new position in Park Hotels & Resorts during the first quarter worth $32,000. Berman Capital Advisors LLC increased its position in Park Hotels & Resorts by 73.3% during the second quarter. Berman Capital Advisors LLC now owns 2,540 shares of the financial services provider’s stock worth $52,000 after buying an additional 1,074 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Park Hotels & Resorts by 2,404.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 2,555 shares of the financial services provider’s stock worth $53,000 after buying an additional 2,453 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Park Hotels & Resorts during the second quarter worth $69,000. Finally, Deseret Mutual Benefit Administrators purchased a new position in Park Hotels & Resorts during the second quarter worth $101,000. 91.35% of the stock is owned by institutional investors.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.

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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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