Park Hotels & Resorts (NYSE:PK) Price Target Raised to $12.00

Park Hotels & Resorts (NYSE:PK) had its price target lifted by equities researchers at Wells Fargo & Company from $10.00 to $12.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 6.22% from the company’s previous close.

PK has been the topic of several other research reports. LADENBURG THALM/SH SH initiated coverage on Park Hotels & Resorts in a research report on Thursday, March 26th. They issued a “buy” rating and a $16.00 target price on the stock. Truist Financial increased their price objective on Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. Morgan Stanley raised their price objective on Park Hotels & Resorts from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $12.00 target price on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $12.15.

Park Hotels & Resorts Price Performance

Shares of NYSE PK traded up $0.67 during trading on Monday, hitting $12.80. The company had a trading volume of 666,851 shares, compared to its average volume of 4,104,091. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -11.70, a price-to-earnings-growth ratio of 1.66 and a beta of 1.37. The stock has a fifty day simple moving average of $11.07 and a two-hundred day simple moving average of $10.98. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts has a fifty-two week low of $9.84 and a fifty-two week high of $12.43.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The company had revenue of $622.00 million during the quarter, compared to analysts’ expectations of $609.78 million. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, research analysts expect that Park Hotels & Resorts will post 1.74 earnings per share for the current year.

Hedge Funds Weigh In On Park Hotels & Resorts

Institutional investors have recently bought and sold shares of the company. Sculptor Capital LP increased its holdings in shares of Park Hotels & Resorts by 154.1% during the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after buying an additional 3,962,304 shares during the last quarter. AQR Capital Management LLC grew its position in Park Hotels & Resorts by 76.7% in the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after acquiring an additional 3,361,382 shares during the period. Bank of America Corp DE grew its position in Park Hotels & Resorts by 34.6% in the second quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider’s stock worth $131,666,000 after acquiring an additional 3,309,275 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Park Hotels & Resorts in the third quarter valued at $20,905,000. Finally, Donald Smith & CO. Inc. raised its position in Park Hotels & Resorts by 14.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock valued at $152,903,000 after purchasing an additional 1,813,338 shares during the period. 92.69% of the stock is 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.