Park Hotels & Resorts (NYSE:PK) Rating Lowered to Underperform at Bank of America

Park Hotels & Resorts (NYSE:PK) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued to investors on Wednesday, MarketBeat reports. They presently have a $11.00 price target on the financial services provider’s stock. Bank of America‘s target price would suggest a potential upside of 9.62% from the stock’s previous close.

Several other brokerages have also issued reports on PK. Wells Fargo & Company lowered their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Truist Financial cut their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and decreased their price target for the stock from $19.00 to $10.00 in a research note on Wednesday, April 9th. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, April 10th. Finally, Morgan Stanley lowered their target price on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and an average target price of $14.60.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK opened at $10.04 on Wednesday. Park Hotels & Resorts has a 12 month low of $8.27 and a 12 month high of $16.58. The company has a market cap of $2.03 billion, a P/E ratio of 9.94, a P/E/G ratio of 1.51 and a beta of 1.73. The business’s 50 day moving average is $10.72 and its two-hundred day moving average is $13.01. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. On average, equities analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current year.

Hedge Funds Weigh In On Park Hotels & Resorts

Institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. increased its stake in shares of Park Hotels & Resorts by 140.9% in the first quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,395 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Park Hotels & Resorts by 11,039.1% during the first quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 2,539 shares during the last quarter. Quarry LP acquired a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $35,000. GF Fund Management CO. LTD. bought a new position in Park Hotels & Resorts in the 4th quarter worth approximately $53,000. Finally, GAMMA Investing LLC lifted its holdings in Park Hotels & Resorts by 401.2% during the 1st quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider’s stock worth $56,000 after buying an additional 4,229 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.