Park Hotels & Resorts (NYSE:PK) Rating Increased to Hold at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Park Hotels & Resorts (NYSE:PK) to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

PK has been the subject of a number of other research reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $12.00 price target on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. LADENBURG THALM/SH SH increased their price objective on Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Weiss Ratings raised Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Morgan Stanley boosted their target price on Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. upped their price target on Park Hotels & Resorts from $11.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $13.18.

Park Hotels & Resorts Stock Up 1.2%

Shares of NYSE:PK opened at $14.76 on Thursday. Park Hotels & Resorts has a 12 month low of $9.84 and a 12 month high of $15.16. The company’s 50-day moving average price is $13.81 and its two-hundred day moving average price is $12.02. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27. The firm has a market cap of $2.97 billion, a P/E ratio of -13.54, a P/E/G ratio of 1.93 and a beta of 1.33.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.33). Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The company had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.77 million. During the same quarter in the previous year, the business posted $0.46 EPS. The company’s revenue was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, research analysts forecast that Park Hotels & Resorts will post 1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Park Hotels & Resorts

Several large investors have recently bought and sold shares of the business. Danske Bank A S bought a new position in Park Hotels & Resorts in the third quarter valued at approximately $25,000. Fifth Third Bancorp raised its position in shares of Park Hotels & Resorts by 68.8% during the 1st quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,061 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at $34,000. Harbor Capital Advisors Inc. lifted its stake in shares of Park Hotels & Resorts by 293.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 3,863 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Park Hotels & Resorts by 33.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 1,464 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

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.