Park Hotels & Resorts (NYSE:PK) Given New $11.00 Price Target at Wells Fargo & Company

Park Hotels & Resorts (NYSE:PK - Get Free Report) had its price target boosted by equities researchers at Wells Fargo & Company from $10.00 to $11.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price objective would indicate a potential upside of 4.65% from the company's previous close.

PK has been the subject of several other research reports. Truist Financial downgraded Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price target for the stock from $16.00 to $11.00 in a research note on Friday, May 30th. Citigroup restated a "buy" rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, April 10th. Evercore ISI cut shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price objective for the company. in a research note on Friday, May 16th. Finally, Bank of America lowered Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price on the stock. in a research note on Wednesday, April 30th. Three research 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, Park Hotels & Resorts presently has a consensus rating of "Hold" and a consensus target price of $12.11.

Park Hotels & Resorts Price Performance

PK stock traded up $0.28 during trading on Tuesday, reaching $10.51. 408,245 shares of the company were exchanged, compared to its average volume of 3,593,628. The company has a market cap of $2.10 billion, a P/E ratio of 17.79, a PEG ratio of 1.39 and a beta of 1.74. Park Hotels & Resorts has a 52-week low of $8.27 and a 52-week high of $16.23. The stock's 50 day moving average price is $10.32 and its 200 day moving average price is $11.70. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.07 and a current ratio of 1.07.

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 (EPS) for the quarter, beating 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 net margin of 4.90% and a return on equity of 2.65%. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. As a group, analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Park Hotels & Resorts

Institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in shares of Park Hotels & Resorts by 140.9% in the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 1,395 shares in the last quarter. Versant Capital Management Inc increased its position in 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 worth $27,000 after purchasing an additional 2,539 shares in the last quarter. Quarry LP purchased a new position in Park Hotels & Resorts in the fourth quarter valued at approximately $35,000. GF Fund Management CO. LTD. acquired a new position in Park Hotels & Resorts during the fourth quarter valued at approximately $53,000. Finally, GAMMA Investing LLC lifted its position in Park Hotels & Resorts by 401.2% during the first quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider's stock valued at $56,000 after buying an additional 4,229 shares in the last quarter. 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.

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