Park Hotels & Resorts (NYSE:PK) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Key Points

• Cantor Fitzgerald raised its price target on Park Hotels & Resorts from $15 to $17 but kept a neutral rating, implying about 3% upside from the prior close. Analysts’ consensus rating is Hold, with an average target of $16.82.
• The stock rose 4.8% and opened at $16.50, near its 12-month high of $17.14.
• Quarterly earnings missed estimates at a loss of $0.10 per share versus expected earnings of $0.02; revenue of $602 million was in line with forecasts but fell 1.3% year over year.

Park Hotels & Resorts (NYSE:PK - Get Free Report) had its price objective hoisted by investment analysts at Cantor Fitzgerald from $15.00 to $17.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. Cantor Fitzgerald's price objective suggests a potential upside of 3.03% from the stock's previous close.

A number of other brokerages also recently commented on PK. Weiss Ratings upgraded Park Hotels & Resorts from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 23rd. Barclays upped their target price on Park Hotels & Resorts from $12.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 27th. JPMorgan Chase & Co. raised their price target on Park Hotels & Resorts from $14.00 to $16.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 21st. Evercore set a $17.00 price target on Park Hotels & Resorts in a report on Monday, October 26th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $18.00 price target on shares of Park Hotels & Resorts in a research note on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $16.82.

Park Hotels & Resorts Trading Up 4.8%

Park Hotels & Resorts stock opened at $16.50 on Tuesday. The company's fifty day simple moving average is $15.69 and its 200-day simple moving average is $13.38. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.29. Park Hotels & Resorts has a 12 month low of $9.84 and a 12 month high of $17.14. The stock has a market cap of $3.32 billion, a P/E ratio of -19.41 and a beta of 1.41.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The financial services provider reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.12). Park Hotels & Resorts had a negative return on equity of 5.41% and a negative net margin of 6.51%. The company had revenue of $602.00 million during the quarter, compared to analyst estimates of $601.95 million. During the same period last year, the company posted $0.35 earnings per share. The company's revenue was down 1.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Park Hotels & Resorts will post 1.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Park Hotels & Resorts

Several hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new stake in shares of Park Hotels & Resorts in the second quarter worth about $25,000. Fifth Third Bancorp increased its holdings 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. Nykredit A S bought a new position in shares of Park Hotels & Resorts in the 2nd quarter valued at approximately $67,000. IFP Advisors Inc raised its stake in shares of Park Hotels & Resorts by 182.5% in the 2nd quarter. IFP Advisors Inc now owns 5,065 shares of the financial services provider's stock valued at $72,000 after acquiring an additional 3,272 shares in the last quarter. Finally, Allworth Financial LP acquired a new stake in Park Hotels & Resorts in the 2nd quarter worth approximately $73,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a lodging real estate investment trust that owns and manages a portfolio of hotels and resorts. Its properties are generally operated by hotel companies under well-known brands, while Park focuses on hotel ownership and asset management.

The company's portfolio includes luxury and full-service properties serving business and leisure travelers. Many of its hotels operate under Hilton-affiliated brands, including Hilton, Waldorf Astoria, Conrad, DoubleTree and Embassy Suites.

Park was formed in 2017 when Hilton Worldwide Holdings spun off its hotel real estate business.

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