Park Hotels & Resorts (NYSE:PK) Stock Rating Lowered by Zacks Research

Park Hotels & Resorts (NYSE:PK) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

PK has been the topic of a number of other research reports. Weiss Ratings cut shares of Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Evercore ISI decreased their target price on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday, November 20th. Wells Fargo & Company cut their price objective on shares of Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, December 1st. Truist Financial lifted their target price on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Thursday, December 4th. Finally, UBS Group increased their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $11.27.

Park Hotels & Resorts Price Performance

PK opened at $11.30 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $10.73 and its 200 day simple moving average is $10.98. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -161.79 and a beta of 1.44. Park Hotels & Resorts has a 1 year low of $8.27 and a 1 year high of $13.90.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Park Hotels & Resorts had a negative net margin of 0.47% and a negative return on equity of 1.25%. The company had revenue of $610.00 million for the quarter, compared to analysts’ expectations of $617.05 million. During the same period last year, the company posted $0.49 EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. As a group, analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Fund Management S.A. boosted its position in shares of Park Hotels & Resorts by 39.1% during the 2nd quarter. Capital Fund Management S.A. now owns 370,803 shares of the financial services provider’s stock valued at $3,793,000 after acquiring an additional 104,307 shares during the last quarter. Parallel Advisors LLC raised its stake in Park Hotels & Resorts by 374.8% during the second quarter. Parallel Advisors LLC now owns 29,843 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 23,558 shares in the last quarter. Squarepoint Ops LLC lifted its position in Park Hotels & Resorts by 370.3% during the second quarter. Squarepoint Ops LLC now owns 432,535 shares of the financial services provider’s stock valued at $4,425,000 after purchasing an additional 340,568 shares during the last quarter. Ethic Inc. lifted its position in Park Hotels & Resorts by 179.5% during the second quarter. Ethic Inc. now owns 38,789 shares of the financial services provider’s stock valued at $408,000 after purchasing an additional 24,911 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of Park Hotels & Resorts in the 2nd quarter worth $113,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.