Wells Fargo & Company Increases Park Hotels & Resorts (NYSE:PK) Price Target to $12.00

Key Points

• Wells Fargo & Company raised its price target for Park Hotels & Resorts from $11.00 to $12.00, indicating a potential upside of 2.70% based on the stock's previous close.
• Park Hotels & Resorts has received mixed ratings from analysts, with three rating it as a Buy, six as a Hold, and two as a Sell, while maintaining a consensus rating of "Hold" with an average price target of $12.22.
• In its most recent earnings report, Park Hotels & Resorts posted $0.64 EPS, exceeding analyst expectations, despite a year-over-year revenue decline of 2.0%.

Park Hotels & Resorts (NYSE:PK - Get Free Report) had its target price upped by Wells Fargo & Company from $11.00 to $12.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price target points to a potential upside of 2.70% from the stock's previous close.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. assumed coverage on Park Hotels & Resorts in a research report on Monday, June 23rd. They issued an "underweight" rating and a $10.00 price objective on the stock. Citigroup restated a "buy" rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd. Evercore ISI lowered Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price target on the stock. in a research report on Friday, May 16th. Wall Street Zen lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Bank of America lowered Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price target on the stock. in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Park Hotels & Resorts has a consensus rating of "Hold" and an average price target of $12.22.

Park Hotels & Resorts Stock Up 0.1%

NYSE PK opened at $11.69 on Wednesday. The firm has a market cap of $2.34 billion, a PE ratio of 43.28 and a beta of 1.80. Park Hotels & Resorts has a one year low of $8.27 and a one year high of $16.23. The stock's 50 day simple moving average is $10.81 and its 200 day simple moving average is $10.84. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.16 and a quick ratio of 1.16.

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

Institutional Trading of Park Hotels & Resorts

Hedge funds and other institutional investors have recently modified their holdings of the stock. Spire Wealth Management increased its position in shares of Park Hotels & Resorts by 47.1% in the first quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider's stock valued at $81,000 after acquiring an additional 2,440 shares during the last quarter. Northern Trust Corp increased its position in Park Hotels & Resorts by 38.9% during the fourth quarter. Northern Trust Corp now owns 2,742,348 shares of the financial services provider's stock worth $38,585,000 after buying an additional 767,818 shares during the last quarter. M&T Bank Corp increased its position in Park Hotels & Resorts by 54.8% during the first quarter. M&T Bank Corp now owns 75,070 shares of the financial services provider's stock worth $801,000 after buying an additional 26,586 shares during the last quarter. Teacher Retirement System of Texas increased its position in Park Hotels & Resorts by 34.4% during the first quarter. Teacher Retirement System of Texas now owns 30,199 shares of the financial services provider's stock worth $323,000 after buying an additional 7,724 shares during the last quarter. Finally, Boston Partners increased its position in Park Hotels & Resorts by 35.2% during the first quarter. Boston Partners now owns 71,343 shares of the financial services provider's stock worth $762,000 after buying an additional 18,566 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.