Park Hotels & Resorts (NYSE:PK) Lowered to "Neutral" Rating by Citigroup

Key Points

• Park Hotels & Resorts has been downgraded from a "buy" rating to a "neutral" rating by Citigroup, with a revised price target of $12.00, down from $13.00.
• The company reported $0.64 earnings per share for the last quarter, which exceeded the consensus estimate by $0.07, despite a year-over-year revenue decline of 2.0%.
• Institutional investors hold a significant stake in Park Hotels & Resorts, owning 92.69% of the company's stock, indicating strong institutional interest.

Park Hotels & Resorts (NYSE:PK - Get Free Report) was downgraded by research analysts at Citigroup from a "buy" rating to a "neutral" rating in a research note issued to investors on Tuesday, Marketbeat reports. They currently have a $12.00 price target on the financial services provider's stock, down from their previous price target of $13.00. Citigroup's target price indicates a potential upside of 0.88% from the stock's current price.

PK has been the topic of a number of other reports. Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 27th. Morgan Stanley reiterated an "outperform" rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. Wall Street Zen lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, July 18th. JPMorgan Chase & Co. began coverage on Park Hotels & Resorts in a report on Monday, June 23rd. They issued an "underweight" rating and a $10.00 price objective for the company. Finally, Evercore ISI lowered Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price objective for the company. in a report on Friday, May 16th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $12.20.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $11.90 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.35. The stock's fifty day simple moving average is $11.09 and its two-hundred day simple moving average is $10.76. Park Hotels & Resorts has a 1-year low of $8.27 and a 1-year high of $16.23. The stock has a market cap of $2.38 billion, a PE ratio of 44.06 and a beta of 1.80.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The business had revenue of $672.00 million for the quarter, compared to analysts' expectations of $672.37 million. During the same period last year, the business earned $0.65 EPS. The business's revenue was down 2.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. As a group, analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Institutional Trading of Park Hotels & Resorts

A number of large investors have recently modified their holdings of the business. Sculptor Capital LP lifted its position in Park Hotels & Resorts by 154.1% in the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider's stock worth $66,844,000 after buying an additional 3,962,304 shares during the last quarter. AQR Capital Management LLC lifted its position in Park Hotels & Resorts by 76.7% in the 2nd quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider's stock worth $79,230,000 after buying an additional 3,361,382 shares during the last quarter. Bank of America Corp DE lifted its position in Park Hotels & Resorts by 34.6% in the 2nd quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider's stock worth $131,666,000 after buying an additional 3,309,275 shares during the last quarter. Donald Smith & CO. Inc. lifted its position in Park Hotels & Resorts by 25.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 11,577,320 shares of the financial services provider's stock worth $123,646,000 after buying an additional 2,377,195 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Park Hotels & Resorts by 809.3% in the 4th quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider's stock worth $33,988,000 after buying an additional 2,149,972 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Company Profile

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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