Park Hotels & Resorts (NYSE:PK) Downgraded by Truist Financial to "Hold"

Park Hotels & Resorts (NYSE:PK - Get Free Report) was downgraded by equities research analysts at Truist Financial from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday, MarketBeat reports. They presently have a $11.00 price target on the financial services provider's stock, down from their previous price target of $16.00. Truist Financial's target price points to a potential upside of 6.49% from the stock's previous close.

PK has been the subject of several other research reports. Wall Street Zen lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Evercore ISI lowered shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price target for the company. in a research report on Friday, May 16th. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their price target for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. UBS Group reduced their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of "Hold" and an average target price of $12.75.

Park Hotels & Resorts Stock Performance

NYSE:PK traded up $0.18 during mid-day trading on Friday, reaching $10.33. The company's stock had a trading volume of 909,701 shares, compared to its average volume of 3,487,111. Park Hotels & Resorts has a 12-month low of $8.27 and a 12-month high of $16.23. The firm's fifty day moving average price is $10.15 and its two-hundred day moving average price is $12.40. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The stock has a market cap of $2.06 billion, a P/E ratio of 10.23, a PEG ratio of 1.51 and a beta of 1.75.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its 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. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The business had revenue of $630.00 million during the quarter, compared to analyst estimates of $620.17 million. During the same quarter in the previous year, the firm earned $0.52 EPS. Park Hotels & Resorts's revenue was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. grew its stake in shares of Park Hotels & Resorts by 140.9% during the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 1,395 shares during the period. Versant Capital Management Inc grew its stake in shares of Park Hotels & Resorts by 11,039.1% during the 1st quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 2,539 shares during the period. Quarry LP bought a new position in shares of Park Hotels & Resorts during the 4th quarter valued at approximately $35,000. GF Fund Management CO. LTD. bought a new position in Park Hotels & Resorts in the 4th quarter worth approximately $53,000. Finally, GAMMA Investing LLC boosted its stake in Park Hotels & Resorts by 401.2% in the 1st quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider's stock worth $56,000 after purchasing an additional 4,229 shares during the period. 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.