Park Hotels & Resorts (NYSE:PK) Rating Lowered to Sell at StockNews.com

Park Hotels & Resorts (NYSE:PK) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

A number of other equities research analysts have also recently issued reports on PK. Compass Point reduced their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group decreased their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Bank of America dropped their target price on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. UBS Group upped their price target on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Finally, Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.65.

Park Hotels & Resorts Trading Down 0.6 %

Park Hotels & Resorts stock opened at $13.58 on Tuesday. Park Hotels & Resorts has a 52 week low of $13.23 and a 52 week high of $18.05. The stock has a market capitalization of $2.80 billion, a P/E ratio of 8.65, a PEG ratio of 6.90 and a beta of 2.02. The stock has a 50-day simple moving average of $14.87 and a 200 day simple moving average of $14.62. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The company had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. Analysts expect that Park Hotels & Resorts will post 1.96 earnings per share for the current year.

Hedge Funds Weigh In On Park Hotels & Resorts

Institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new position in Park Hotels & Resorts in the 3rd quarter valued at approximately $33,000. Venturi Wealth Management LLC raised its position in Park Hotels & Resorts by 281.6% in the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,841 shares during the last quarter. Quarry LP boosted its stake in shares of Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 1,857 shares in the last quarter. Claro Advisors LLC acquired a new position in shares of Park Hotels & Resorts in the third quarter valued at approximately $69,000. Finally, Covestor Ltd raised its holdings in Park Hotels & Resorts by 64.8% in the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after buying an additional 2,711 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.