Park Hotels & Resorts (NYSE:PK) Hits New 12-Month High After Analyst Upgrade

Key Points

• Park Hotels & Resorts reached a new 52-week high, trading as high as $17.12 after JPMorgan raised its price target from $14 to $16, though it maintained an underweight rating.
• Analyst sentiment remains broadly neutral: the stock has an average “Hold” rating and a consensus price target of $16.09, while institutional investors own 92.69% of shares.
• The company reported quarterly revenue of $680 million and EPS of $0.24, while maintaining a quarterly dividend of $0.25 per share, equal to a 5.9% annualized yield.

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $14.00 to $16.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Park Hotels & Resorts traded as high as $17.12 and last traded at $17.0050, with a volume of 5,806,854 shares traded. The stock had previously closed at $16.57.

A number of other research analysts also recently commented on PK. Wells Fargo & Company raised Park Hotels & Resorts to a "hold" rating in a report on Thursday, July 23rd. Truist Financial lifted their price objective on Park Hotels & Resorts from $13.00 to $17.00 and gave the stock a "hold" rating in a report on Thursday, September 10th. Barclays upped their target price on Park Hotels & Resorts from $12.00 to $14.00 and gave the company an "equal weight" rating in a research report on Thursday, August 27th. Weiss Ratings raised Park Hotels & Resorts from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $18.00 target price on shares of Park Hotels & Resorts in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $16.09.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors have recently modified their holdings of the business. Diversify Advisory Services LLC raised its stake in Park Hotels & Resorts by 44.5% during the third quarter. Diversify Advisory Services LLC now owns 96,134 shares of the financial services provider's stock worth $1,511,000 after acquiring an additional 29,587 shares during the period. IFP Advisors Inc boosted its stake in Park Hotels & Resorts by 48.7% in the third quarter. IFP Advisors Inc now owns 7,534 shares of the financial services provider's stock valued at $116,000 after acquiring an additional 2,469 shares during the period. NorthCrest Asset Manangement LLC bought a new position in shares of Park Hotels & Resorts during the third quarter valued at approximately $160,000. Wedmont Private Capital bought a new position in shares of Park Hotels & Resorts during the third quarter valued at approximately $179,000. Finally, Post Resch Tallon Group Inc. raised its position in shares of Park Hotels & Resorts by 4.7% during the 3rd quarter. Post Resch Tallon Group Inc. now owns 35,933 shares of the financial services provider's stock worth $554,000 after purchasing an additional 1,615 shares during the period. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Price Performance

The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $15.46 and a two-hundred day moving average price of $13.94. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 8.24 and a beta of 1.36.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.24 EPS for the quarter, hitting analysts' consensus estimates of $0.24. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%. The firm had revenue of $680.00 million during the quarter, compared to the consensus estimate of $659.68 million. During the same period in the prior year, the business earned $0.64 EPS. The firm's revenue was up 1.2% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.900-2.000 EPS. As a group, research analysts forecast that Park Hotels & Resorts Inc. will post 1.86 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 5.9%. Park Hotels & Resorts's payout ratio is -120.48%.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc NYSE: PK is a real estate investment trust focused on owning and operating hotels and resorts. The company's portfolio includes full-service properties in major business and leisure destinations, with hotels operating under Hilton brands as well as other nationally recognized and independent brands.

Park's properties provide lodging, food and beverage, meeting and event facilities, and other hospitality services. Its hotels are located primarily in the United States, including gateway cities, convention markets, and resort destinations.

Park Hotels & Resorts was formed in 2017 through a spin-off from Hilton Worldwide Holdings.

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