Park Hotels & Resorts (NYSE:PK) Price Target Raised to $15.00

Park Hotels & Resorts (NYSE:PK) had its price objective lifted by equities research analysts at UBS Group from $14.00 to $15.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective would indicate a potential upside of 4.75% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Evercore ISI cut their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Compass Point reduced their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Bank of America decreased their price target 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. Finally, Truist Financial dropped their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.09.

Park Hotels & Resorts Stock Performance

Shares of NYSE:PK opened at $14.32 on Monday. The business has a 50-day moving average of $14.36 and a two-hundred day moving average of $14.77. The firm has a market capitalization of $2.96 billion, a PE ratio of 9.00, a P/E/G ratio of 0.80 and a beta of 2.02. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. Park Hotels & Resorts has a 12 month low of $13.23 and a 12 month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business had revenue of $649.00 million for the quarter, compared to analyst estimates of $646.15 million. During the same period last year, the company posted $0.51 EPS. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, research analysts forecast that Park Hotels & Resorts will post 2.09 earnings per share for the current year.

Hedge Funds Weigh In On Park Hotels & Resorts

Several large investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. lifted its stake in Park Hotels & Resorts by 22.5% during the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after purchasing an additional 1,484,295 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after purchasing an additional 3,897,889 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Park Hotels & Resorts by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock worth $46,638,000 after buying an additional 115,391 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Park Hotels & Resorts by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock valued at $40,928,000 after buying an additional 66,093 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Park Hotels & Resorts by 286.9% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after buying an additional 1,925,850 shares during the period. Institutional investors 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.