Park Hotels & Resorts Inc. (NYSE:PK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Park Hotels & Resorts Inc. (NYSE:PK) has received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $18.09.

A number of equities analysts have weighed in on PK shares. Compass Point decreased their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Bank of America cut their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Evercore ISI lowered their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lowered their price objective on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Friday, September 13th.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $15.50 on Tuesday. The company has a 50 day moving average of $14.43 and a 200 day moving average of $14.73. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock has a market cap of $3.20 billion, a P/E ratio of 9.87, a P/E/G ratio of 0.83 and a beta of 2.02. Park Hotels & Resorts has a 12 month low of $13.23 and a 12 month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter last year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Park Hotels & Resorts will post 2.09 EPS for the current fiscal year.

Institutional Trading of Park Hotels & Resorts

Hedge funds have recently bought and sold shares of the company. Blue Zone Wealth Advisors LLC increased its position in Park Hotels & Resorts by 0.4% in the second quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider’s stock worth $3,786,000 after buying an additional 883 shares in the last quarter. Tidal Investments LLC increased its holdings in Park Hotels & Resorts by 5.5% in the 3rd quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 1,020 shares in the last quarter. Arizona State Retirement System raised its stake in Park Hotels & Resorts by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 58,940 shares of the financial services provider’s stock worth $883,000 after acquiring an additional 1,232 shares during the period. Bfsg LLC raised its stake in Park Hotels & Resorts by 8.7% during the 3rd quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 1,235 shares during the period. Finally, Kendall Capital Management lifted its holdings in Park Hotels & Resorts by 11.0% during the second quarter. Kendall Capital Management now owns 15,095 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 1,500 shares in 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.