Park Hotels & Resorts (NYSE:PK) Stock Rating Upgraded by Wells Fargo & Company

Park Hotels & Resorts (NYSE:PK) was upgraded by investment analysts at Wells Fargo & Company to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on PK. LADENBURG THALM/SH SH upped their price target on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. JPMorgan Chase & Co. raised their price objective on shares of Park Hotels & Resorts from $11.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday. Weiss Ratings raised shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. BMO Capital Markets restated a “market perform” rating and set a $14.00 target price on shares of Park Hotels & Resorts in a research report on Friday, June 12th. Finally, Morgan Stanley increased their target price on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Reduce” and a consensus price target of $13.18.

Park Hotels & Resorts Stock Up 1.2%

Park Hotels & Resorts stock opened at $14.76 on Thursday. The stock’s 50 day moving average price is $13.81 and its 200 day moving average price is $12.02. Park Hotels & Resorts has a 1-year low of $9.84 and a 1-year high of $15.16. The company has a market cap of $2.97 billion, a PE ratio of -13.54, a price-to-earnings-growth ratio of 1.93 and a beta of 1.33. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.33). Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The business had revenue of $622.00 million during the quarter, compared to analysts’ expectations of $609.77 million. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s revenue was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, sell-side analysts predict that Park Hotels & Resorts will post 1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Danske Bank A S purchased a new stake in shares of Park Hotels & Resorts in the third quarter valued at about $25,000. Fifth Third Bancorp increased its stake in shares of Park Hotels & Resorts by 68.8% during the 1st 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 in the last quarter. Advisory Services Network LLC acquired a new position in shares of Park Hotels & Resorts during the 3rd quarter worth approximately $34,000. Harbor Capital Advisors Inc. raised its position in shares of Park Hotels & Resorts by 293.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 3,863 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Park Hotels & Resorts by 33.4% during 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 purchasing an additional 1,464 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.