Park Hotels & Resorts (NYSE:PK) Price Target Cut to $14.00

Park Hotels & Resorts (NYSE:PK – Get Rating) had its price objective cut by equities researchers at Morgan Stanley from $15.00 to $14.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 12.81% from the company’s current price.

Several other analysts also recently commented on PK. StockNews.com initiated coverage on shares of Park Hotels & Resorts in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Barclays reduced their price objective on shares of Park Hotels & Resorts from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 10th. Compass Point reduced their price objective on shares of Park Hotels & Resorts to $25.00 in a research report on Tuesday, November 15th. Truist Financial reduced their price target on shares of Park Hotels & Resorts to $20.00 in a research report on Wednesday, November 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Park Hotels & Resorts from $26.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, October 25th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of “Hold” and a consensus price target of $18.41.

Park Hotels & Resorts Stock Down 0.2 %

Park Hotels & Resorts stock opened at $12.41 on Wednesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 3.24 and a current ratio of 3.24. Park Hotels & Resorts has a 52-week low of $10.92 and a 52-week high of $20.58. The firm has a 50 day moving average price of $12.15 and a two-hundred day moving average price of $13.10. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 42.79 and a beta of 1.89.

Park Hotels & Resorts (NYSE:PK – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The financial services provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.23). The company had revenue of $662.00 million for the quarter, compared to analyst estimates of $651.62 million. Park Hotels & Resorts had a return on equity of 1.41% and a net margin of 2.67%. Equities analysts predict that Park Hotels & Resorts will post 1.43 EPS for the current year.

Insiders Place Their Bets

In other Park Hotels & Resorts news, Director Geoffrey Garrett sold 3,000 shares of the company’s stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $11.86, for a total value of $35,580.00. Following the completion of the sale, the director now directly owns 33,604 shares of the company’s stock, valued at approximately $398,543.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors have recently added to or reduced their stakes in PK. MetLife Investment Management LLC grew its position in Park Hotels & Resorts by 33.4% in the 1st quarter. MetLife Investment Management LLC now owns 152,902 shares of the financial services provider’s stock worth $2,986,000 after purchasing an additional 38,302 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Park Hotels & Resorts by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 86,667 shares of the financial services provider’s stock valued at $1,693,000 after acquiring an additional 8,263 shares during the last quarter. BlackRock Inc. boosted its stake in Park Hotels & Resorts by 0.6% in the first quarter. BlackRock Inc. now owns 29,740,571 shares of the financial services provider’s stock valued at $580,834,000 after acquiring an additional 182,269 shares during the last quarter. APG Asset Management N.V. purchased a new position in Park Hotels & Resorts in the first quarter valued at about $857,000. Finally, Great West Life Assurance Co. Can boosted its stake in Park Hotels & Resorts by 5.2% in the first quarter. Great West Life Assurance Co. Can now owns 328,319 shares of the financial services provider’s stock valued at $6,628,000 after acquiring an additional 16,107 shares during the last quarter. 89.42% of the stock is owned by institutional investors.

Park Hotels & Resorts Company Profile

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Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.