Park Hotels & Resorts (NYSE:PK – Get Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
PK has been the subject of a number of other reports. Wells Fargo & Company raised their price target on Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $20.00 in a report on Friday, March 22nd. Jefferies Financial Group upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.00 to $21.00 in a research note on Tuesday, January 2nd. Truist Financial raised their price objective on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Barclays upped their target price on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.58.
Get Our Latest Analysis on Park Hotels & Resorts
Park Hotels & Resorts Stock Performance
Park Hotels & Resorts (NYSE:PK – Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. The company had revenue of $657.00 million during the quarter, compared to analysts’ expectations of $665.16 million. On average, equities research analysts forecast that Park Hotels & Resorts will post 2 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new position in Park Hotels & Resorts during the fourth quarter worth about $27,000. Quarry LP purchased a new position in Park Hotels & Resorts in the 4th quarter valued at approximately $29,000. Raleigh Capital Management Inc. purchased a new position in Park Hotels & Resorts in the 4th quarter valued at approximately $35,000. FNY Investment Advisers LLC purchased a new position in Park Hotels & Resorts in the 4th quarter valued at approximately $42,000. Finally, Spire Wealth Management raised its holdings in Park Hotels & Resorts by 20.1% during the third quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 860 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.
Park Hotels & Resorts Company Profile
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.
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