Park Hotels & Resorts Inc. (NYSE:PK) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• Analyst sentiment is cautious: Thirteen brokerages give Park Hotels & Resorts an average “Reduce” recommendation, with two sell ratings, ten holds and one buy. The average 12-month price target is $13.18.
• Shares recently traded near their 52-week high: PK opened at $14.96, compared with a 52-week range of $9.84 to $15.48, while its 50-day and 200-day moving averages were $14.38 and $12.25, respectively.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 92.69% of the company’s stock, with several firms recently increasing or initiating positions.

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) has been assigned an average recommendation of "Reduce" from the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $13.1818.

Several equities research analysts have issued reports on the company. BMO Capital Markets reaffirmed a "market perform" rating and set a $14.00 price target on shares of Park Hotels & Resorts in a research note on Friday, June 12th. Cantor Fitzgerald reiterated a "neutral" rating and set a $12.00 price objective on shares of Park Hotels & Resorts in a research report on Wednesday, May 13th. JPMorgan Chase & Co. raised their price objective on Park Hotels & Resorts from $11.00 to $13.00 and gave the company an "underweight" rating in a report on Tuesday, July 21st. LADENBURG THALM/SH SH boosted their target price on Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company raised Park Hotels & Resorts to a "hold" rating in a research note on Thursday, July 23rd.

Park Hotels & Resorts Stock Down 0.3%

Shares of NYSE:PK opened at $14.96 on Thursday. The firm has a market capitalization of $3.01 billion, a PE ratio of -13.72, a price-to-earnings-growth ratio of 1.98 and a beta of 1.34. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.25 and a current ratio of 1.25. Park Hotels & Resorts has a 52-week low of $9.84 and a 52-week high of $15.48. The firm has a fifty day moving average of $14.38 and a 200 day moving average of $12.25.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors have recently made changes to their positions in the business. Danske Bank A S purchased a new position in Park Hotels & Resorts in the 3rd quarter worth $25,000. Fifth Third Bancorp lifted its stake in Park Hotels & Resorts by 68.8% in the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider's stock worth $27,000 after purchasing an additional 1,061 shares during the last quarter. Advisory Services Network LLC bought a new stake in Park Hotels & Resorts in the third quarter worth $34,000. Harbor Capital Advisors Inc. boosted its position in Park Hotels & Resorts by 293.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider's stock valued at $54,000 after buying an additional 3,863 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Park Hotels & Resorts by 33.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider's stock valued at $61,000 after buying an additional 1,464 shares during the period. Hedge funds and other 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.

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