Park Hotels & Resorts (NYSE:PK) Reaches New 12-Month High – Here’s Why

Park Hotels & Resorts Inc. (NYSE:PK)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $15.19 and last traded at $15.19, with a volume of 228543 shares trading hands. The stock had previously closed at $14.74.

Wall Street Analysts Forecast Growth

PK has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Truist Financial upped their target price on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th. Morgan Stanley increased their price target on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. LADENBURG THALM/SH SH lifted their price target on Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $14.00 price objective on shares of Park Hotels & Resorts in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $13.18.

Park Hotels & Resorts Stock Performance

The company has a market capitalization of $3.06 billion, a P/E ratio of -13.93, a P/E/G ratio of 1.99 and a beta of 1.33. The business has a 50-day moving average of $13.97 and a 200-day moving average of $12.09. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.33). Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The firm had revenue of $622.00 million for the quarter, compared to analysts’ expectations of $609.77 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The firm’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, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 1.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PK. Sculptor Capital LP increased its position in shares of Park Hotels & Resorts by 154.1% during the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after acquiring an additional 3,962,304 shares during the period. AQR Capital Management LLC increased its position in Park Hotels & Resorts by 76.7% during the 2nd quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock valued at $79,230,000 after purchasing an additional 3,361,382 shares during the period. Bank of America Corp DE raised its holdings in shares of Park Hotels & Resorts by 34.6% in the 2nd quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider’s stock valued at $131,666,000 after purchasing an additional 3,309,275 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at about $20,905,000. Finally, Donald Smith & CO. Inc. boosted its stake in shares of Park Hotels & Resorts by 14.2% during 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 in the last quarter. Institutional investors 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.