Park Hotels & Resorts (NYSE:PK) Price Target Raised to $10.50

Park Hotels & Resorts (NYSE:PK) had its target price raised by analysts at Morgan Stanley from $10.00 to $10.50 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential downside of 5.19% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald raised their price objective on Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. Truist Financial raised their price objective on Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “hold” rating in a report on Thursday, March 26th. Wall Street Zen upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. LADENBURG THALM/SH SH started coverage on Park Hotels & Resorts in a report on Thursday, March 26th. They set a “buy” rating and a $16.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on Park Hotels & Resorts from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $11.55.

Park Hotels & Resorts Stock Up 0.4%

Shares of PK traded up $0.05 during midday trading on Tuesday, hitting $11.08. The stock had a trading volume of 1,468,832 shares, compared to its average volume of 4,122,665. The company has a 50 day simple moving average of $10.91 and a two-hundred day simple moving average of $10.91. Park Hotels & Resorts has a twelve month low of $9.84 and a twelve month high of $12.39. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -10.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.37. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.33). Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The firm had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.78 million. During the same period in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, analysts anticipate that Park Hotels & Resorts will post 1.74 EPS for the current year.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors have recently made changes to their positions in PK. Sculptor Capital LP boosted its holdings in shares of Park Hotels & Resorts by 154.1% during the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after acquiring an additional 3,962,304 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Park Hotels & Resorts by 76.7% during the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after acquiring an additional 3,361,382 shares during the period. Bank of America Corp DE boosted its holdings in shares of Park Hotels & Resorts by 34.6% during the second quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider’s stock worth $131,666,000 after acquiring an additional 3,309,275 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Park Hotels & Resorts during the third quarter worth approximately $20,905,000. Finally, Donald Smith & CO. Inc. boosted its holdings in shares of Park Hotels & Resorts by 14.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock worth $152,903,000 after acquiring an additional 1,813,338 shares during the period. Institutional investors own 92.69% of the company’s stock.

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.