Park Hotels & Resorts (NYSE:PK) Cut to Hold at Truist Financial

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 currently 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 price target indicates a potential upside of 6.18% from the stock's previous close.

Several other research firms have also recently commented on PK. Wall Street Zen cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Bank of America lowered shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price for the company. in a research report on Wednesday, April 30th. Citigroup reiterated a "buy" rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd. Wells Fargo & Company dropped their target price 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. Finally, Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their price target for the company from $19.00 to $10.00 in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $12.75.

Park Hotels & Resorts Price Performance

NYSE PK traded down $0.13 on Friday, hitting $10.36. The stock had a trading volume of 4,995,870 shares, compared to its average volume of 3,494,044. The firm has a 50-day moving average of $10.18 and a 200-day moving average of $12.45. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. Park Hotels & Resorts has a 52-week low of $8.27 and a 52-week high of $16.23. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Monday, May 5th. The financial services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company had revenue of $630.00 million for the quarter, compared to analyst estimates of $620.17 million. During the same quarter last year, the firm earned $0.52 EPS. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its position in shares of Park Hotels & Resorts by 15.8% in the 4th quarter. Sterling Capital Management LLC now owns 33,274 shares of the financial services provider's stock worth $468,000 after buying an additional 4,533 shares during the last quarter. American Century Companies Inc. lifted its holdings in Park Hotels & Resorts by 12.3% during the fourth quarter. American Century Companies Inc. now owns 16,532 shares of the financial services provider's stock valued at $233,000 after purchasing an additional 1,816 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Park Hotels & Resorts by 1,087.0% in the fourth quarter. Federated Hermes Inc. now owns 149,192 shares of the financial services provider's stock valued at $2,099,000 after buying an additional 136,623 shares during the last quarter. KBC Group NV raised its position in shares of Park Hotels & Resorts by 36.2% in the fourth quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock valued at $141,000 after buying an additional 2,663 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in Park Hotels & Resorts during the fourth quarter worth about $612,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

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.