Truist Financial Has Lowered Expectations for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK) had its price objective reduced by investment analysts at Truist Financial from $18.00 to $16.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 43.05% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group dropped their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Wells Fargo & Company lowered their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Finally, UBS Group lowered their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus target price of $17.72.

Park Hotels & Resorts Stock Down 3.5 %

PK opened at $11.19 on Friday. The business’s 50-day simple moving average is $12.73 and its 200-day simple moving average is $13.93. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. Park Hotels & Resorts has a one year low of $10.87 and a one year high of $17.96. The stock has a market capitalization of $2.26 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Analysts anticipate that Park Hotels & Resorts will post 2.11 EPS for the current year.

Institutional Investors Weigh In On Park Hotels & Resorts

Several institutional investors have recently modified their holdings of the company. Quarry LP acquired a new position in shares of Park Hotels & Resorts during the 4th quarter worth approximately $35,000. GF Fund Management CO. LTD. acquired a new position in shares of Park Hotels & Resorts during the 4th quarter worth approximately $53,000. Quadrant Capital Group LLC raised its position in shares of Park Hotels & Resorts by 38.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,335 shares during the last quarter. KBC Group NV raised its position in shares of Park Hotels & Resorts by 34.4% during the 3rd quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 1,882 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Park Hotels & Resorts by 42.2% during the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 2,373 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About Park Hotels & Resorts

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.