Wolfe Research Downgrades Park Hotels & Resorts (NYSE:PK) to Peer Perform

Park Hotels & Resorts (NYSE:PK) was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a note issued to investors on Thursday, MarketBeat reports.

Several other equities research analysts have also recently commented on PK. Wells Fargo & Company cut their price target 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. UBS Group cut their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Truist Financial cut their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, Evercore ISI cut their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of “Hold” and a consensus target price of $17.05.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $14.81 on Thursday. Park Hotels & Resorts has a 12-month low of $11.05 and a 12-month high of $18.05. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.23. The firm has a fifty day moving average of $14.56 and a 200-day moving average of $15.51.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.30). The company had revenue of $686.00 million during the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. On average, equities research analysts forecast that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors and hedge funds have recently modified their holdings of the company. Donald Smith & CO. Inc. grew its stake in Park Hotels & Resorts by 6.5% in the 1st quarter. Donald Smith & CO. Inc. now owns 6,955,362 shares of the financial services provider’s stock valued at $121,649,000 after buying an additional 425,696 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Park Hotels & Resorts by 287.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after acquiring an additional 3,897,889 shares during the period. Dimensional Fund Advisors LP lifted its stake in Park Hotels & Resorts by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock valued at $46,638,000 after purchasing an additional 115,391 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in Park Hotels & Resorts by 286.9% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after purchasing an additional 1,925,850 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Park Hotels & Resorts by 601.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock valued at $36,921,000 after purchasing an additional 1,809,886 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

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.