Park Hotels & Resorts (NYSE:PK) Downgraded by Evercore ISI to “In-Line”

Park Hotels & Resorts (NYSE:PK) was downgraded by equities researchers at Evercore ISI from an “outperform” rating to an “in-line” rating in a research note issued to investors on Friday,Finviz reports. They currently have a $13.00 price target on the financial services provider’s stock. Evercore ISI’s price objective would indicate a potential upside of 20.04% from the company’s current price.

Other equities analysts have also recently issued reports about the company. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, April 10th. Wells Fargo & Company dropped their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. UBS Group reduced their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Morgan Stanley decreased their price objective on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Finally, Truist Financial cut their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.60.

Park Hotels & Resorts Trading Down 1.8%

PK opened at $10.83 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. Park Hotels & Resorts has a fifty-two week low of $8.27 and a fifty-two week high of $16.58. The firm has a market capitalization of $2.16 billion, a PE ratio of 10.72, a P/E/G ratio of 1.51 and a beta of 1.75. The company’s 50-day moving average is $10.40 and its 200 day moving average is $12.77.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Monday, May 5th. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm had revenue of $630.00 million during the quarter, compared to analyst estimates of $620.17 million. During the same period in the previous year, the company posted $0.52 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, research analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Park Hotels & Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in Park Hotels & Resorts by 22.4% in the 3rd quarter. Barclays PLC now owns 319,593 shares of the financial services provider’s stock valued at $4,507,000 after buying an additional 58,432 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of Park Hotels & Resorts in the fourth quarter valued at $280,000. Merit Financial Group LLC bought a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at $146,000. KBC Group NV lifted its holdings in Park Hotels & Resorts by 36.2% during the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 2,663 shares in the last quarter. Finally, Cascade Investment Advisors Inc. lifted its holdings in Park Hotels & Resorts by 1.3% during the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock worth $1,034,000 after purchasing an additional 915 shares in 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.