Park Hotels & Resorts (NYSE:PK) Price Target Raised to $11.00

Park Hotels & Resorts (NYSE:PK) had its price target raised by Morgan Stanley from $10.50 to $11.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 25.45% from the company’s previous close.

A number of other equities research analysts have also weighed in on PK. LADENBURG THALM/SH SH lifted their target price on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Weiss Ratings raised shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Wells Fargo & Company lifted their target price on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, June 18th. Truist Financial boosted their price target on Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Finally, Barclays raised their price objective on Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $13.00.

Park Hotels & Resorts Trading Up 1.1%

Shares of NYSE:PK traded up $0.15 during trading on Friday, reaching $14.76. 1,366,172 shares of the company traded hands, compared to its average volume of 4,514,357. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts has a 52-week low of $9.84 and a 52-week high of $14.95. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -13.48, a P/E/G ratio of 1.95 and a beta of 1.33. The business’s fifty day moving average is $13.34 and its 200-day moving average is $11.85.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). The firm had revenue of $622.00 million for the quarter, compared to the consensus estimate of $609.77 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, analysts forecast that Park Hotels & Resorts will post 1.76 EPS for the current year.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of hedge funds have recently added to or reduced their stakes in PK. Donald Smith & CO. Inc. increased its holdings in shares of Park Hotels & Resorts by 14.2% in the 4th quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock worth $152,903,000 after purchasing an additional 1,813,338 shares in the last quarter. Bank of America Corp DE raised its position in Park Hotels & Resorts by 1.6% in the 3rd quarter. Bank of America Corp DE now owns 13,074,474 shares of the financial services provider’s stock worth $144,865,000 after buying an additional 203,922 shares during the last quarter. AQR Capital Management LLC raised its position in Park Hotels & Resorts by 76.7% in the 2nd quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after buying an additional 3,361,382 shares during the last quarter. Sculptor Capital LP lifted its stake in Park Hotels & Resorts by 154.1% during the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock valued at $66,844,000 after acquiring an additional 3,962,304 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Park Hotels & Resorts by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,257,003 shares of the financial services provider’s stock valued at $44,528,000 after acquiring an additional 273,410 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.