Park Hotels & Resorts (NYSE:PK) Reaches New 1-Year High – Here’s What Happened

Shares of Park Hotels & Resorts Inc. (NYSE:PK) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $15.19 and last traded at $15.19, with a volume of 228543 shares. The stock had previously closed at $14.74.

Analyst Upgrades and Downgrades

PK has been the topic of several recent research reports. BMO Capital Markets reiterated a “market perform” rating and issued a $14.00 price objective on shares of Park Hotels & Resorts in a research report on Friday, June 12th. Weiss Ratings upgraded shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. LADENBURG THALM/SH SH lifted their target price on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Barclays lifted their target price on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Finally, Wells Fargo & Company raised shares of Park Hotels & Resorts to a “hold” rating in a report on Thursday. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Park Hotels & Resorts presently has an average rating of “Reduce” and an average price target of $13.18.

Park Hotels & Resorts Trading Up 2.0%

The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -13.82, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33. The business’s 50-day moving average price is $13.81 and its two-hundred day moving average price is $12.03. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25.

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

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its holdings in shares of Park Hotels & Resorts by 223.9% in the 4th quarter. SG Americas Securities LLC now owns 762,261 shares of the financial services provider’s stock worth $7,973,000 after purchasing an additional 526,901 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Park Hotels & Resorts by 106.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 191,712 shares of the financial services provider’s stock valued at $2,005,000 after buying an additional 99,051 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in shares of Park Hotels & Resorts by 14.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock valued at $152,903,000 after acquiring an additional 1,813,338 shares during the period. Tudor Investment Corp ET AL acquired a new position in Park Hotels & Resorts during the 3rd quarter valued at about $950,000. Finally, Sivia Capital Partners LLC bought a new position in Park Hotels & Resorts in the 2nd quarter worth about $230,000. Institutional investors own 92.69% of the company’s stock.

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.