Park Hotels & Resorts (NYSE:PK) Stock Rating Upgraded by Wells Fargo & Company

Key Points

• Wells Fargo & Company upgraded Park Hotels & Resorts to a “hold” rating, adding to a mixed analyst picture around the stock.
• Other firms remain split: one analyst rates it a Buy, while most assign Hold or Sell-type ratings. The consensus rating is now “Reduce” with a consensus price target of $13.18.
• The stock was up 1.2% and opened at $14.76, near its 52-week high of $15.16. Park Hotels recently missed EPS estimates in its last quarterly report, though revenue came in above expectations.

Park Hotels & Resorts (NYSE:PK - Get Free Report) was upgraded by investment analysts at Wells Fargo & Company to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on PK. LADENBURG THALM/SH SH upped their price target on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. JPMorgan Chase & Co. raised their price objective on shares of Park Hotels & Resorts from $11.00 to $13.00 and gave the company an "underweight" rating in a research note on Tuesday. Weiss Ratings raised shares of Park Hotels & Resorts from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, May 20th. BMO Capital Markets restated a "market perform" rating and set a $14.00 target price on shares of Park Hotels & Resorts in a research report on Friday, June 12th. Finally, Morgan Stanley increased their target price on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the company an "equal weight" rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Park Hotels & Resorts presently has an average rating of "Reduce" and a consensus price target of $13.18.

Park Hotels & Resorts Stock Up 1.2%

Park Hotels & Resorts stock opened at $14.76 on Thursday. The stock's 50 day moving average price is $13.81 and its 200 day moving average price is $12.02. Park Hotels & Resorts has a 1-year low of $9.84 and a 1-year high of $15.16. The company has a market cap of $2.97 billion, a PE ratio of -13.54, a price-to-earnings-growth ratio of 1.93 and a beta of 1.33. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.33). Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The business had revenue of $622.00 million during the quarter, compared to analysts' expectations of $609.77 million. During the same quarter in the previous year, the company posted $0.46 EPS. The company's revenue was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, sell-side analysts predict that Park Hotels & Resorts will post 1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Danske Bank A S purchased a new stake in shares of Park Hotels & Resorts in the third quarter valued at about $25,000. Fifth Third Bancorp increased its stake in shares of Park Hotels & Resorts by 68.8% during the 1st quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider's stock worth $27,000 after purchasing an additional 1,061 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Park Hotels & Resorts during the 3rd quarter worth approximately $34,000. Harbor Capital Advisors Inc. raised its position in shares of Park Hotels & Resorts by 293.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider's stock worth $54,000 after purchasing an additional 3,863 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Park Hotels & Resorts by 33.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider's stock worth $61,000 after purchasing an additional 1,464 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company's primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.