Park Hotels & Resorts (NYSE:PK) Coverage Initiated at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Park Hotels & Resorts (NYSE:PK - Get Free Report) in a research note issued on Monday,Benzinga reports. The brokerage set an "underweight" rating and a $10.00 price target on the financial services provider's stock. JPMorgan Chase & Co.'s price objective would suggest a potential downside of 1.71% from the company's current price.

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their price target for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. Bank of America downgraded shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price on the stock. in a report on Wednesday, April 30th. Citigroup reissued a "buy" rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd. Evercore ISI downgraded Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price target on the stock. in a research report on Friday, May 16th. Finally, Truist Financial lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $16.00 to $11.00 in a research note on Friday, May 30th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Park Hotels & Resorts presently has an average rating of "Hold" and an average price target of $12.44.

Park Hotels & Resorts Stock Down 0.2%

PK stock opened at $10.17 on Monday. The firm has a market cap of $2.03 billion, a PE ratio of 17.24, a PEG ratio of 1.32 and a beta of 1.74. Park Hotels & Resorts has a 1 year low of $8.27 and a 1 year high of $16.23. The company has a fifty day simple moving average of $10.24 and a 200 day simple moving average of $11.92. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.33.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.05. The company had revenue of $630.00 million during the quarter, compared to analysts' expectations of $620.17 million. Park Hotels & Resorts had a return on equity of 2.65% and a net margin of 4.90%. The business's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Sell-side analysts anticipate that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Institutional Trading of Park Hotels & Resorts

Institutional investors and hedge funds have recently modified their holdings of the company. Voya Investment Management LLC lifted its position in Park Hotels & Resorts by 116.3% in the first quarter. Voya Investment Management LLC now owns 352,982 shares of the financial services provider's stock worth $3,770,000 after purchasing an additional 189,825 shares during the period. Strs Ohio acquired a new position in shares of Park Hotels & Resorts in the 1st quarter valued at $5,593,000. Focus Partners Wealth lifted its holdings in shares of Park Hotels & Resorts by 30.6% during the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider's stock worth $199,000 after acquiring an additional 4,374 shares during the period. Optimize Financial Inc lifted its holdings in shares of Park Hotels & Resorts by 21.1% during the 1st quarter. Optimize Financial Inc now owns 12,384 shares of the financial services provider's stock worth $132,000 after acquiring an additional 2,161 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Park Hotels & Resorts by 10.1% during the 1st quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider's stock valued at $239,000 after acquiring an additional 2,058 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.

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