Park Hotels & Resorts (NYSE:PK) Price Target Raised to $11.00

Park Hotels & Resorts (NYSE:PK) had its price target upped by JPMorgan Chase & Co. from $10.00 to $11.00 in a research report report published on Tuesday,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. Weiss Ratings upgraded Park Hotels & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Barclays began coverage on Park Hotels & Resorts in a research note on Tuesday, January 6th. They set an “overweight” rating and a $13.00 target price for the company. Truist Financial cut their price target on shares of Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Tuesday. Evercore ISI reduced their price target on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday, November 20th. Finally, Morgan Stanley set a $10.00 price objective on shares of Park Hotels & Resorts in a report on Friday, January 16th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $11.27.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $11.16 on Tuesday. Park Hotels & Resorts has a 52 week low of $8.27 and a 52 week high of $13.30. The stock has a market capitalization of $2.23 billion, a PE ratio of -159.36 and a beta of 1.45. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.04 and a current ratio of 1.04. The stock’s fifty day moving average is $10.94 and its 200-day moving average is $11.02.

Insider Activity at Park Hotels & Resorts

In other Park Hotels & Resorts news, Director Christie B. Kelly purchased 2,949 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was acquired at an average price of $11.19 per share, with a total value of $32,999.31. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System increased its holdings in Park Hotels & Resorts by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock valued at $1,969,000 after buying an additional 968 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Park Hotels & Resorts by 0.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 125,051 shares of the financial services provider’s stock worth $1,386,000 after acquiring an additional 1,038 shares in the last quarter. Optas LLC increased its stake in Park Hotels & Resorts by 12.8% in the fourth quarter. Optas LLC now owns 11,389 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 1,295 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Park Hotels & Resorts by 33.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 1,464 shares in the last quarter. Finally, Kera Capital Partners Inc. raised its position in Park Hotels & Resorts by 13.3% during the third quarter. Kera Capital Partners Inc. now owns 14,583 shares of the financial services provider’s stock valued at $162,000 after purchasing an additional 1,714 shares in 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.