Park Hotels & Resorts (NYSE:PK) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Several other research analysts have also recently weighed in on the stock. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Compass Point decreased their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company lowered their price target on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Bank of America cut their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Finally, Truist Financial lowered their target price on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.00.

Park Hotels & Resorts Price Performance

NYSE PK opened at $14.71 on Thursday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The company has a market cap of $3.04 billion, a PE ratio of 9.37, a price-to-earnings-growth ratio of 0.81 and a beta of 2.02. Park Hotels & Resorts has a 52 week low of $12.85 and a 52 week high of $18.05. The firm’s 50-day simple moving average is $14.33 and its two-hundred day simple moving average is $14.85.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. During the same period in the previous year, the firm earned $0.51 EPS. The company’s revenue was down 4.4% compared to the same quarter last year. Research analysts predict that Park Hotels & Resorts will post 2.09 earnings per share for the current year.

Institutional Trading of Park Hotels & Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PK. Donald Smith & CO. Inc. lifted its holdings in Park Hotels & Resorts by 22.5% in the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after buying an additional 1,484,295 shares during the period. AQR Capital Management LLC raised its position in shares of Park Hotels & Resorts by 287.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after acquiring an additional 3,897,889 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Park Hotels & Resorts by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock valued at $46,638,000 after purchasing an additional 115,391 shares during the period. Jupiter Asset Management Ltd. lifted its stake in shares of Park Hotels & Resorts by 286.9% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after purchasing an additional 1,925,850 shares during the period. Finally, Private Management Group Inc. lifted its stake in shares of Park Hotels & Resorts by 11.2% in the 3rd quarter. Private Management Group Inc. now owns 2,225,243 shares of the financial services provider’s stock valued at $31,376,000 after purchasing an additional 223,562 shares during the period. Hedge funds and other institutional investors 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.