Wells Fargo & Company Issues Positive Forecast for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK) had its price target hoisted by equities research analysts at Wells Fargo & Company from $14.50 to $16.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 2.83% from the stock’s previous close.

PK has been the subject of a number of other research reports. Bank of America reduced their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Evercore ISI reduced their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. UBS Group boosted their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Finally, StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.23.

Park Hotels & Resorts Price Performance

Shares of PK opened at $15.56 on Tuesday. The business’s 50-day moving average is $14.49 and its 200-day moving average is $14.73. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 0.85 and a beta of 2.02. Park Hotels & Resorts has a fifty-two week low of $13.23 and a fifty-two week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.21). The company had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 EPS. Equities research analysts expect that Park Hotels & Resorts will post 2.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. boosted its position in shares of 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 valued at $113,890,000 after acquiring an additional 1,484,295 shares during the period. AQR Capital Management LLC boosted its holdings in 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 valued at $77,217,000 after purchasing an additional 3,897,889 shares during the period. Dimensional Fund Advisors LP boosted its holdings in 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. Charles Schwab Investment Management Inc. grew its position in Park Hotels & Resorts by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after purchasing an additional 66,093 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in shares of Park Hotels & Resorts by 286.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock worth $38,904,000 after purchasing an additional 1,925,850 shares during the period. 92.69% of the stock is owned by institutional investors.

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.