Park Hotels & Resorts Inc. (NYSE:PK) Given Consensus Recommendation of “Reduce” by Brokerages

Park Hotels & Resorts Inc. (NYSE:PK) has been assigned an average recommendation of “Reduce” from the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $13.1818.

Several equities research analysts have issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $14.00 price target on shares of Park Hotels & Resorts in a research note on Friday, June 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $12.00 price objective on shares of Park Hotels & Resorts in a research report on Wednesday, May 13th. JPMorgan Chase & Co. raised their price objective on Park Hotels & Resorts from $11.00 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, July 21st. LADENBURG THALM/SH SH boosted their target price on Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company raised Park Hotels & Resorts to a “hold” rating in a research note on Thursday, July 23rd.

Park Hotels & Resorts Stock Down 0.3%

Shares of NYSE:PK opened at $14.96 on Thursday. The firm has a market capitalization of $3.01 billion, a PE ratio of -13.72, a price-to-earnings-growth ratio of 1.98 and a beta of 1.34. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.25 and a current ratio of 1.25. Park Hotels & Resorts has a 52-week low of $9.84 and a 52-week high of $15.48. The firm has a fifty day moving average of $14.38 and a 200 day moving average of $12.25.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors have recently made changes to their positions in the business. Danske Bank A S purchased a new position in Park Hotels & Resorts in the 3rd quarter worth $25,000. Fifth Third Bancorp lifted its stake in Park Hotels & Resorts by 68.8% in the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,061 shares during the last quarter. Advisory Services Network LLC bought a new stake in Park Hotels & Resorts in the third quarter worth $34,000. Harbor Capital Advisors Inc. boosted its position in Park Hotels & Resorts by 293.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock valued at $54,000 after buying an additional 3,863 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Park Hotels & Resorts by 33.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock valued at $61,000 after buying an additional 1,464 shares during the period. 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.