Shares of Park Hotels & Resorts Inc (NYSE:PK) have earned an average rating of "Hold" from the fifteen brokerages that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $11.50.
PK has been the topic of several research reports. ValuEngine raised shares of Park Hotels & Resorts from a "hold" rating to a "buy" rating in a report on Tuesday, September 1st. Wells Fargo & Company raised shares of Park Hotels & Resorts from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $7.50 to $11.00 in a report on Thursday, September 10th. Barclays lifted their price objective on shares of Park Hotels & Resorts from $10.00 to $12.00 and gave the company an "equal weight" rating in a report on Monday, June 22nd. SunTrust Banks lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, July 24th. Finally, Zacks Investment Research lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Wednesday, July 15th.
A number of institutional investors and hedge funds have recently made changes to their positions in PK. Principal Financial Group Inc. lifted its stake in shares of Park Hotels & Resorts by 31.9% during the second quarter. Principal Financial Group Inc. now owns 10,254,496 shares of the financial services provider's stock worth $101,416,000 after buying an additional 2,482,176 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Park Hotels & Resorts by 210.7% during the second quarter. Nuveen Asset Management LLC now owns 3,401,732 shares of the financial services provider's stock worth $33,643,000 after buying an additional 2,306,997 shares during the period. APG Asset Management N.V. lifted its stake in shares of Park Hotels & Resorts by 1,550.0% during the first quarter. APG Asset Management N.V. now owns 1,892,600 shares of the financial services provider's stock worth $52,386,000 after buying an additional 1,777,900 shares during the period. Balyasny Asset Management LLC acquired a new stake in shares of Park Hotels & Resorts during the first quarter worth $13,120,000. Finally, TB Alternative Assets Ltd. acquired a new stake in shares of Park Hotels & Resorts during the second quarter worth $14,780,000. Institutional investors own 79.27% of the company's stock.
Shares of NYSE:PK opened at $11.16 on Wednesday. The firm has a market cap of $2.63 billion, a PE ratio of -3.23 and a beta of 1.93. The firm's 50 day simple moving average is $9.37 and its 200-day simple moving average is $9.78. Park Hotels & Resorts has a one year low of $3.99 and a one year high of $26.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 7.04 and a current ratio of 7.04.
Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Wednesday, August 5th. The financial services provider reported ($1.10) EPS for the quarter, missing the Zacks' consensus estimate of ($0.69) by ($0.41). The company had revenue of $42.00 million for the quarter, compared to analysts' expectations of $59.67 million. Park Hotels & Resorts had a negative return on equity of 13.76% and a negative net margin of 38.58%. Equities research analysts predict that Park Hotels & Resorts will post -1.2 EPS for the current fiscal year.
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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