Wells Fargo & Company Issues Positive Forecast for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK - Get Free Report) had its price objective boosted by 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 target price indicates a potential upside of 1.71% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their price objective for the company from $19.00 to $10.00 in a research note on Wednesday, April 9th. 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. Morgan Stanley decreased their target price on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Citigroup restated a "buy" rating on shares of Park Hotels & Resorts in a research note on Thursday, May 22nd. Finally, Bank of America downgraded shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price objective on the stock. in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $12.11.

Park Hotels & Resorts Trading Up 0.1%

Shares of Park Hotels & Resorts stock traded up $0.02 during trading on Tuesday, reaching $10.82. The company's stock had a trading volume of 1,958,126 shares, compared to its average volume of 3,629,923. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.33. Park Hotels & Resorts has a 52-week low of $8.27 and a 52-week high of $16.23. The firm's 50-day moving average is $10.37 and its two-hundred day moving average is $11.65. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 1.43 and a beta of 1.72.

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

Hedge Funds Weigh In On Park Hotels & Resorts

A number of institutional investors have recently bought and sold shares of PK. Assetmark Inc. lifted its holdings in Park Hotels & Resorts by 3.4% during the fourth quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider's stock valued at $329,000 after purchasing an additional 764 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of Park Hotels & Resorts by 7.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider's stock valued at $168,000 after purchasing an additional 813 shares during the period. Xponance Inc. lifted its stake in shares of Park Hotels & Resorts by 3.8% during the 4th quarter. Xponance Inc. now owns 24,650 shares of the financial services provider's stock valued at $347,000 after buying an additional 892 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in shares of Park Hotels & Resorts by 2.2% during the 1st quarter. IFM Investors Pty Ltd now owns 48,266 shares of the financial services provider's stock valued at $515,000 after buying an additional 1,043 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in Park Hotels & Resorts by 1.1% in the 4th quarter. Amalgamated Bank now owns 98,223 shares of the financial services provider's stock worth $1,382,000 after buying an additional 1,089 shares during the period. 92.69% of the stock is 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.