Park Hotels & Resorts (NYSE:PK) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “Park Hotels & Resorts Inc. is a lodging Real Estate Company. The company operates luxury hotels and resorts in USA and international market. Park Hotels & Resorts Inc. is based in Mc Lean, Virginia. “

Other research analysts have also issued research reports about the stock. UBS Group set a $24.00 target price on shares of Park Hotels & Resorts and gave the stock a hold rating in a research note on Friday, August 16th. Barclays reaffirmed an overweight rating and set a $30.00 target price on shares of Park Hotels & Resorts in a research note on Friday, September 27th. BMO Capital Markets began coverage on shares of Park Hotels & Resorts in a research note on Wednesday, October 16th. They set a market perform rating and a $25.00 target price for the company. Citigroup lowered their target price on shares of Park Hotels & Resorts from $31.00 to $25.00 and set a neutral rating for the company in a research note on Thursday, September 5th. Finally, Deutsche Bank increased their target price on shares of Park Hotels & Resorts from $25.00 to $27.00 and gave the stock a hold rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Park Hotels & Resorts presently has an average rating of Hold and a consensus price target of $28.33.

PK stock traded up $0.26 during mid-day trading on Friday, hitting $22.62. 2,719,004 shares of the company were exchanged, compared to its average volume of 2,281,151. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $5.39 billion, a P/E ratio of 7.64, a PEG ratio of 2.07 and a beta of 1.30. The business has a fifty day simple moving average of $23.64 and a 200-day simple moving average of $26.20. Park Hotels & Resorts has a 12-month low of $22.16 and a 12-month high of $33.02.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.64). The company had revenue of $672.00 million for the quarter, compared to analysts’ expectations of $658.27 million. Park Hotels & Resorts had a return on equity of 4.09% and a net margin of 8.71%. Research analysts predict that Park Hotels & Resorts will post 2.78 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cohen & Steers Inc. lifted its stake in Park Hotels & Resorts by 9.5% in the second quarter. Cohen & Steers Inc. now owns 25,308,847 shares of the financial services provider’s stock worth $697,512,000 after acquiring an additional 2,199,863 shares during the last quarter. Schroder Investment Management Group lifted its stake in Park Hotels & Resorts by 436.5% in the second quarter. Schroder Investment Management Group now owns 2,435,831 shares of the financial services provider’s stock worth $67,132,000 after acquiring an additional 1,981,779 shares during the last quarter. Brookfield Asset Management Inc. lifted its stake in Park Hotels & Resorts by 39.8% in the second quarter. Brookfield Asset Management Inc. now owns 6,036,967 shares of the financial services provider’s stock worth $166,379,000 after acquiring an additional 1,720,152 shares during the last quarter. APG Asset Management N.V. lifted its stake in Park Hotels & Resorts by 76.2% in the second quarter. APG Asset Management N.V. now owns 3,335,600 shares of the financial services provider’s stock worth $80,725,000 after acquiring an additional 1,443,000 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Park Hotels & Resorts by 23.3% in the third quarter. Daiwa Securities Group Inc. now owns 6,148,024 shares of the financial services provider’s stock worth $153,516,000 after acquiring an additional 1,162,958 shares during the last quarter.

Park Hotels & Resorts Company Profile

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 consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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