Park Hotels & Resorts (NYSE:PK) Downgraded to Hold Rating by Truist Financial

Park Hotels & Resorts (NYSE:PK) was downgraded by stock analysts at Truist Financial from a “buy” rating to a “hold” rating in a research note issued on Friday,Finviz reports. They currently have a $11.00 price objective on the financial services provider’s stock. Truist Financial’s price target would suggest a potential upside of 4.87% from the stock’s previous close.

A number of other research firms also recently commented on PK. 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 on the stock in a research note on Tuesday, February 18th. Jefferies Financial Group downgraded Park Hotels & Resorts from a “buy” rating to a “hold” rating and dropped their price target for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Morgan Stanley cut their price target on Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Citigroup reiterated a “buy” rating on shares of Park Hotels & Resorts in a research note on Thursday, May 22nd. Finally, Wall Street Zen downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.75.

Park Hotels & Resorts Stock Performance

NYSE PK opened at $10.49 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 1-year low of $8.27 and a 1-year high of $16.23. The company has a market capitalization of $2.10 billion, a P/E ratio of 10.39, a PEG ratio of 1.51 and a beta of 1.75. The business has a 50 day moving average price of $10.20 and a 200 day moving average price of $12.50.

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

Institutional Investors Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. grew its holdings in Park Hotels & Resorts by 140.9% during the first 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 period. Versant Capital Management Inc boosted its holdings in shares of Park Hotels & Resorts by 11,039.1% in the 1st quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 2,539 shares in the last quarter. Quarry LP acquired a new stake in shares of Park Hotels & Resorts in the 4th quarter valued at approximately $35,000. GF Fund Management CO. LTD. bought a new position in Park Hotels & Resorts in the fourth quarter valued at about $53,000. Finally, GAMMA Investing LLC increased its position in Park Hotels & Resorts by 401.2% in the 1st 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 period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.