Wells Fargo & Company Lowers Park Hotels & Resorts (NYSE:PK) Price Target to $10.00

Park Hotels & Resorts (NYSE:PK) had its target price dropped by research analysts at Wells Fargo & Company from $11.00 to $10.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 4.35% from the stock’s previous close.

PK has been the topic of a number of other research reports. Cantor Fitzgerald increased their price target on Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. Wall Street Zen upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. JPMorgan Chase & Co. increased their target price on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 3rd. Zacks Research raised Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Finally, Morgan Stanley set a $10.00 price target on Park Hotels & Resorts in a report on Friday, January 16th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $11.18.

Park Hotels & Resorts Trading Up 0.1%

Shares of Park Hotels & Resorts stock traded up $0.02 during mid-day trading on Tuesday, hitting $10.46. 127,453 shares of the stock were exchanged, compared to its average volume of 4,011,593. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -7.29 and a beta of 1.40. Park Hotels & Resorts has a twelve month low of $8.27 and a twelve month high of $12.39. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.25. The company has a 50-day simple moving average of $11.12 and a 200 day simple moving average of $11.00.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Thursday, February 19th. The financial services provider reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($1.50). Park Hotels & Resorts had a negative net margin of 11.14% and a negative return on equity of 8.56%. The firm had revenue of $629.00 million during the quarter, compared to analyst estimates of $621.79 million. During the same period in the prior year, the firm earned $0.39 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. Research analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current year.

Insiders Place Their Bets

In related news, Director Christie B. Kelly purchased 2,949 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was purchased at an average cost of $11.19 per share, for a total transaction of $32,999.31. Following the acquisition, the director owned 150,501 shares in the company, valued at approximately $1,684,106.19. This trade represents a 2.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Park Hotels & Resorts

Several institutional investors and hedge funds have recently modified their holdings of PK. Capital Fund Management S.A. increased its position in shares of Park Hotels & Resorts by 39.1% in the 2nd quarter. Capital Fund Management S.A. now owns 370,803 shares of the financial services provider’s stock worth $3,793,000 after purchasing an additional 104,307 shares during the last quarter. SAM Advisors LLC bought a new position in shares of Park Hotels & Resorts during the third quarter worth about $2,212,000. JPMorgan Chase & Co. lifted its position in shares of Park Hotels & Resorts by 21.2% during the third quarter. JPMorgan Chase & Co. now owns 3,634,643 shares of the financial services provider’s stock worth $40,272,000 after purchasing an additional 636,049 shares during the last quarter. Citigroup Inc. grew its stake in Park Hotels & Resorts by 13.9% in the third quarter. Citigroup Inc. now owns 1,636,353 shares of the financial services provider’s stock worth $18,131,000 after purchasing an additional 199,405 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in Park Hotels & Resorts by 370.3% in the second quarter. Squarepoint Ops LLC now owns 432,535 shares of the financial services provider’s stock worth $4,425,000 after purchasing an additional 340,568 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.