Boenning Scattergood set a $29.00 target price on Park Hotels & Resorts Inc. (NYSE:PK) in a research note published on Friday morning. The firm currently has a buy rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Park Hotels & Resorts from a buy rating to a hold rating in a research report on Tuesday, July 25th. Jefferies Group LLC increased their target price on shares of Park Hotels & Resorts from $58.00 to $69.00 and gave the company a hold rating in a research report on Tuesday, June 20th. Cowen and Company increased their target price on shares of Park Hotels & Resorts from $61.00 to $70.00 and gave the company a market perform rating in a research report on Tuesday, June 20th. J P Morgan Chase & Co assumed coverage on shares of Park Hotels & Resorts in a research report on Thursday, June 15th. They set an overweight rating and a $30.00 target price for the company. Finally, Evercore ISI assumed coverage on shares of Park Hotels & Resorts in a research report on Wednesday, May 31st. They set an outperform rating and a $28.00 target price for the company. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $34.80.

Shares of Park Hotels & Resorts (NYSE:PK) opened at 26.66 on Friday. The firm’s 50-day moving average is $27.16 and its 200 day moving average is $26.56. The firm has a market capitalization of $5.73 billion and a P/E ratio of 2.28. Park Hotels & Resorts has a 12 month low of $24.65 and a 12 month high of $33.40.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.04. The firm had revenue of $733 million during the quarter, compared to the consensus estimate of $716.51 million. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts anticipate that Park Hotels & Resorts will post $11.94 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.45%. The ex-dividend date of this dividend is Thursday, September 28th.

In related news, major shareholder Hlt Holdco Iii Prime Llc sold 15,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $26.05, for a total value of $390,750,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in Park Hotels & Resorts by 3,050.7% in the second quarter. Parallel Advisors LLC now owns 4,789 shares of the financial services provider’s stock valued at $129,000 after buying an additional 4,637 shares during the period. CIBC Asset Management Inc increased its position in Park Hotels & Resorts by 7.1% in the second quarter. CIBC Asset Management Inc now owns 9,416 shares of the financial services provider’s stock valued at $254,000 after buying an additional 624 shares during the period. Federated Investors Inc. PA increased its position in Park Hotels & Resorts by 4,029.2% in the second quarter. Federated Investors Inc. PA now owns 9,745 shares of the financial services provider’s stock valued at $263,000 after buying an additional 9,509 shares during the period. Teacher Retirement System of Texas increased its position in Park Hotels & Resorts by 9.2% in the second quarter. Teacher Retirement System of Texas now owns 10,437 shares of the financial services provider’s stock valued at $281,000 after buying an additional 878 shares during the period. Finally, Balasa Dinverno & Foltz LLC acquired a new position in Park Hotels & Resorts during the second quarter valued at approximately $307,000. 97.07% of the stock is owned by institutional investors.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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