Park Hotels & Resorts (NYSE:PK – Get Free Report) was upgraded by investment analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $20.00 price objective on the financial services provider’s stock, up from their previous price objective of $19.00. Evercore ISI’s target price would indicate a potential upside of 21.88% from the stock’s current price.
Other analysts have also recently issued reports about the stock. Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and increased their target price for the stock from $14.00 to $20.00 in a report on Friday, March 22nd. UBS Group raised their target price on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Barclays upped their target price on 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 Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.50.
Check Out Our Latest Report on Park Hotels & Resorts
Park Hotels & Resorts Price Performance
PK opened at $16.41 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.48 and a current ratio of 1.48. Park Hotels & Resorts has a 1-year low of $11.05 and a 1-year high of $18.05. The company has a 50-day moving average of $16.84 and a 200-day moving average of $15.82. The company has a market capitalization of $3.46 billion, a P/E ratio of 37.30, a PEG ratio of 0.78 and a beta of 2.03.
Park Hotels & Resorts (NYSE:PK – Get Free Report) last issued its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.49 by $0.39. The company had revenue of $657.00 million during the quarter, compared to analyst estimates of $665.16 million. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. Equities analysts expect that Park Hotels & Resorts will post 2.08 EPS for the current fiscal year.
Institutional Investors Weigh In On Park Hotels & Resorts
A number of institutional investors have recently added to or reduced their stakes in PK. Allspring Global Investments Holdings LLC grew its holdings in Park Hotels & Resorts by 5.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 85,069 shares of the financial services provider’s stock worth $1,048,000 after acquiring an additional 4,720 shares during the period. Investors Research Corp raised its holdings in shares of Park Hotels & Resorts by 11,593.8% in the 3rd quarter. Investors Research Corp now owns 58,469 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 57,969 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Park Hotels & Resorts by 3.8% during the third quarter. Daiwa Securities Group Inc. now owns 77,052 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 2,786 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Park Hotels & Resorts by 1.6% during the third quarter. Nisa Investment Advisors LLC now owns 133,328 shares of the financial services provider’s stock worth $1,643,000 after buying an additional 2,146 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Park Hotels & Resorts by 2.3% in the third quarter. Principal Financial Group Inc. now owns 1,278,636 shares of the financial services provider’s stock worth $15,753,000 after buying an additional 28,349 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.
About Park Hotels & Resorts
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.
Further Reading
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