StockNews.com Downgrades Park Hotels & Resorts (NYSE:PK) to Sell

Park Hotels & Resorts (NYSE:PK) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

PK has been the topic of several other reports. Barclays increased their price objective on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Truist Financial raised their price target on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Jefferies Financial Group raised shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and raised their price target for the stock from $14.00 to $21.00 in a research note on Tuesday, January 2nd. Wells Fargo & Company raised their price target on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Finally, UBS Group raised their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.58.

Park Hotels & Resorts Stock Up 0.4 %

NYSE:PK opened at $16.79 on Tuesday. The company’s fifty day moving average price is $16.86 and its 200-day moving average price is $15.37. Park Hotels & Resorts has a 1-year low of $11.05 and a 1-year high of $18.05. The firm has a market capitalization of $3.53 billion, a P/E ratio of 36.50, a PEG ratio of 0.61 and a beta of 2.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.30 and a quick ratio of 1.30.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. The firm had revenue of $657.00 million for the quarter, compared to the consensus estimate of $665.16 million. As a group, equities research analysts anticipate that Park Hotels & Resorts will post 2.06 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. purchased a new stake in shares of Park Hotels & Resorts during the 4th quarter worth approximately $35,000. FNY Investment Advisers LLC purchased a new stake in shares of Park Hotels & Resorts during the 4th quarter worth approximately $42,000. Spire Wealth Management lifted its position in shares of Park Hotels & Resorts by 20.1% during the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after buying an additional 860 shares during the last quarter. Covestor Ltd lifted its position in shares of Park Hotels & Resorts by 31.5% during the 3rd quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,340 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Park Hotels & Resorts by 12.7% during the 4th quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock worth $98,000 after buying an additional 727 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.