Park Hotels & Resorts (NYSE:PK) Rating Lowered to “Underperform” at Bank of America

Park Hotels & Resorts (NYSE:PK) was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued on Wednesday, MarketBeat.com reports. They presently have a $11.00 price objective on the financial services provider’s stock. Bank of America‘s price objective would indicate a potential upside of 9.62% from the stock’s current price.

A number of other brokerages have also recently issued reports on PK. Truist Financial decreased their price objective on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, March 21st. Morgan Stanley cut their price objective on Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Evercore ISI lowered their target price on Park Hotels & Resorts from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Monday. UBS Group cut their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.60.

Park Hotels & Resorts Stock Up 1.0 %

NYSE:PK opened at $10.04 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts has a 12-month low of $8.27 and a 12-month high of $16.58. The stock’s fifty day simple moving average is $10.72 and its 200-day simple moving average is $13.01. The firm has a market capitalization of $2.03 billion, a P/E ratio of 9.94, a P/E/G ratio of 1.51 and a beta of 1.73.

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

Institutional Trading of Park Hotels & Resorts

Several institutional investors and hedge funds have recently bought and sold shares of PK. UMB Bank n.a. increased its position in shares of Park Hotels & Resorts by 140.9% during the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,395 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Park Hotels & Resorts by 11,039.1% in the first quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider’s stock valued at $27,000 after buying an additional 2,539 shares in the last quarter. Quarry LP acquired a new position in Park Hotels & Resorts during the fourth quarter worth $35,000. GF Fund Management CO. LTD. bought a new stake in Park Hotels & Resorts during the fourth quarter worth $53,000. Finally, GAMMA Investing LLC lifted its stake in Park Hotels & Resorts by 401.2% in the first quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 4,229 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.