Park Hotels & Resorts (NYSE:PK) Coverage Initiated at LADENBURG THALM/SH SH

Equities researchers at LADENBURG THALM/SH SH started coverage on shares of Park Hotels & Resorts (NYSE:PK) in a report issued on Thursday, MarketBeat reports. The firm set a “buy” rating and a $16.00 price target on the financial services provider’s stock. LADENBURG THALM/SH SH’s target price would suggest a potential upside of 53.62% from the company’s previous close.

Several other equities analysts have also recently weighed in on PK. Morgan Stanley set a $10.00 price objective on Park Hotels & Resorts in a report on Friday, January 16th. Cantor Fitzgerald increased their target price on Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. Zacks Research upgraded shares of Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Wells Fargo & Company cut their price target on shares of Park Hotels & Resorts from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Truist Financial reduced their price target on shares of Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, February 3rd. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.67.

Park Hotels & Resorts Price Performance

PK opened at $10.42 on Thursday. The stock has a market cap of $2.10 billion, a P/E ratio of -7.28 and a beta of 1.40. Park Hotels & Resorts has a 12 month low of $8.27 and a 12 month high of $12.39. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.25. The company has a fifty day simple moving average of $11.05 and a 200 day simple moving average of $10.98.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Thursday, February 19th. The financial services provider reported ($1.04) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($1.50). Park Hotels & Resorts had a negative return on equity of 8.56% and a negative net margin of 11.14%.The business had revenue of $629.00 million for the quarter, compared to the consensus estimate of $621.79 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business’s revenue was up .6% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. On average, research analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current year.

Insider Activity

In related news, Director Christie B. Kelly acquired 2,949 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was bought at an average price of $11.19 per share, with a total value of $32,999.31. Following the acquisition, the director owned 150,501 shares in the company, valued at $1,684,106.19. This represents a 2.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of institutional investors have recently added to or reduced their stakes in PK. Hsbc Holdings PLC lifted its stake in Park Hotels & Resorts by 9.2% in the fourth quarter. Hsbc Holdings PLC now owns 373,679 shares of the financial services provider’s stock valued at $3,908,000 after acquiring an additional 31,628 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Park Hotels & Resorts by 49.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 11,636 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 3,826 shares during the period. Corient Private Wealth LLC increased its stake in shares of Park Hotels & Resorts by 16.5% during the 4th quarter. Corient Private Wealth LLC now owns 152,355 shares of the financial services provider’s stock worth $1,594,000 after purchasing an additional 21,523 shares during the last quarter. Kera Capital Partners Inc. raised its holdings in shares of Park Hotels & Resorts by 17.3% in the 4th quarter. Kera Capital Partners Inc. now owns 17,105 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 2,522 shares during the period. Finally, Invesco Ltd. lifted its stake in Park Hotels & Resorts by 28.2% in the 4th quarter. Invesco Ltd. now owns 2,260,448 shares of the financial services provider’s stock valued at $23,644,000 after purchasing an additional 497,665 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

About Park Hotels & Resorts

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.