Park Hotels & Resorts (PK) Raised to Outperform at Evercore ISI

Evercore ISI upgraded shares of Park Hotels & Resorts (NYSE:PK) from an in-line rating to an outperform rating in a research report released on Monday morning, MarketBeat reports.

A number of other research analysts have also recently commented on PK. Zacks Investment Research cut Park Hotels & Resorts from a buy rating to a hold rating in a research note on Wednesday, August 16th. Boenning Scattergood restated a buy rating on shares of Park Hotels & Resorts in a research note on Monday, November 6th. Finally, Nomura lifted their target price on Park Hotels & Resorts from $32.00 to $33.00 and gave the stock a buy rating in a research report on Monday, November 6th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $34.87.

Shares of Park Hotels & Resorts (NYSE PK) opened at $28.38 on Monday. Park Hotels & Resorts has a fifty-two week low of $24.65 and a fifty-two week high of $33.40. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.50.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Thursday, November 2nd. The financial services provider reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Park Hotels & Resorts had a return on equity of 46.66% and a net margin of 93.04%. The firm had revenue of $688.00 million for the quarter, compared to analysts’ expectations of $676.76 million. During the same quarter last year, the firm earned $0.66 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. equities analysts predict that Park Hotels & Resorts will post 2.74 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PK. Parallel Advisors LLC increased its holdings in shares of Park Hotels & Resorts by 3,050.7% in the second quarter. Parallel Advisors LLC now owns 4,789 shares of the financial services provider’s stock valued at $129,000 after buying an additional 4,637 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Park Hotels & Resorts by 53.9% in the second quarter. Pacer Advisors Inc. now owns 5,938 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 2,080 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Park Hotels & Resorts in the third quarter worth $179,000. QS Investors LLC boosted its holdings in Park Hotels & Resorts by 0.3% in the second quarter. QS Investors LLC now owns 7,535 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 22 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Park Hotels & Resorts by 148.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,962 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 5,360 shares in the last quarter. Hedge funds and other institutional investors own 99.14% of the company’s stock.

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Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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