Park Hotels & Resorts Inc. (NYSE:PK) Receives $18.09 Consensus Target Price from Analysts

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have been given an average rating of “Moderate Buy” by the twelve research firms that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $18.09.

Several research analysts have weighed in on PK shares. Compass Point dropped their price objective on shares of 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. Wells Fargo & Company dropped their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Bank of America reduced their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Evercore ISI dropped their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Finally, StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in 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. Jupiter Asset Management Ltd. raised 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 worth $38,904,000 after buying an additional 1,925,850 shares in the last quarter. Donald Smith & CO. Inc. lifted its position in shares of Park Hotels & Resorts by 22.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after buying an additional 1,484,295 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Park Hotels & Resorts by 321.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock valued at $19,875,000 after buying an additional 1,075,255 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Park Hotels & Resorts by 345.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider’s stock valued at $14,595,000 after acquiring an additional 802,939 shares during the period. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Trading Up 2.5 %

NYSE:PK opened at $15.05 on Tuesday. The stock has a fifty day simple moving average of $14.43 and a 200 day simple moving average of $14.75. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 9.59, a price-to-earnings-growth ratio of 0.81 and a beta of 2.02. Park Hotels & Resorts has a 1-year low of $13.23 and a 1-year high of $18.05. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts (NYSE:PK) last posted 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). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The firm had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. During the same period in the prior year, the business posted $0.51 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Sell-side analysts forecast that Park Hotels & Resorts will post 2.09 earnings per share for the current year.

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.