Brokerages Set Park Hotels & Resorts Inc. (NYSE:PK) Target Price at $11.27

Park Hotels & Resorts Inc. (NYSE:PK) has been given a consensus recommendation of “Reduce” by the thirteen brokerages that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $11.2727.

A number of analysts have issued reports on the stock. Barclays started coverage on shares of Park Hotels & Resorts in a report on Tuesday, January 6th. They issued an “overweight” rating and a $13.00 price target on the stock. Wells Fargo & Company reduced their target price on Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, December 1st. Evercore ISI dropped their price target on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a research note on Thursday, November 20th. UBS Group lifted their price objective on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Finally, Weiss Ratings cut Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th.

Park Hotels & Resorts Stock Down 2.0%

NYSE PK opened at $11.36 on Friday. Park Hotels & Resorts has a 12 month low of $8.27 and a 12 month high of $13.90. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37. The stock has a market cap of $2.27 billion, a PE ratio of -162.26 and a beta of 1.44. The stock’s 50 day moving average is $10.83 and its 200 day moving average is $11.01.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). Park Hotels & Resorts had a negative net margin of 0.47% and a negative return on equity of 1.25%. The company had revenue of $610.00 million for the quarter, compared to the consensus estimate of $617.05 million. During the same quarter in the previous year, the business earned $0.49 EPS. The company’s quarterly revenue was down 6.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Research analysts predict that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Insider Transactions at Park Hotels & Resorts

In other Park Hotels & Resorts news, Director Christie B. Kelly acquired 2,949 shares of the stock in a transaction on Wednesday, January 14th. The stock was acquired at an average price of $11.19 per share, for a total transaction of $32,999.31. Following the completion of the transaction, the director directly owned 150,501 shares of the company’s stock, valued at $1,684,106.19. This trade represents a 2.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Park Hotels & Resorts

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System grew its position in Park Hotels & Resorts by 0.5% in the second quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock worth $1,969,000 after acquiring an additional 968 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Park Hotels & Resorts by 0.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 125,051 shares of the financial services provider’s stock valued at $1,386,000 after purchasing an additional 1,038 shares during the last quarter. Kera Capital Partners Inc. boosted its holdings in shares of Park Hotels & Resorts by 13.3% in the 3rd quarter. Kera Capital Partners Inc. now owns 14,583 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 1,714 shares during the period. Jones Financial Companies Lllp increased its position in shares of Park Hotels & Resorts by 16.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 12,239 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 1,748 shares during the last quarter. Finally, Pitcairn Co. increased its position in shares of Park Hotels & Resorts by 13.7% during the 2nd quarter. Pitcairn Co. now owns 15,029 shares of the financial services provider’s stock valued at $154,000 after purchasing an additional 1,814 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Company Profile

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.