Park Hotels & Resorts (NYSE:PK) Upgraded to “Hold” at Wells Fargo & Company

Park Hotels & Resorts (NYSE:PK) was upgraded by investment analysts at Wells Fargo & Company to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other brokerages also recently commented on PK. LADENBURG THALM/SH SH lifted their price target on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Cantor Fitzgerald reissued a “neutral” rating and set a $12.00 price objective on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. Barclays upped their price objective on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. BMO Capital Markets restated a “market perform” rating and set a $14.00 target price on shares of Park Hotels & Resorts in a research report on Friday, June 12th. Finally, Weiss Ratings raised shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Reduce” and an average price target of $13.18.

Park Hotels & Resorts Trading Up 1.2%

Park Hotels & Resorts stock opened at $14.76 on Thursday. The stock has a market cap of $2.97 billion, a PE ratio of -13.54, a P/E/G ratio of 1.93 and a beta of 1.33. The stock has a 50-day moving average price of $13.81 and a 200 day moving average price of $12.02. Park Hotels & Resorts has a 52 week low of $9.84 and a 52 week high of $15.16. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.33). The firm had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.77 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Equities research analysts predict that Park Hotels & Resorts will post 1.79 earnings per share for the current fiscal year.

Institutional Trading of Park Hotels & Resorts

Hedge funds have recently added to or reduced their stakes in the business. Sculptor Capital LP grew its holdings in Park Hotels & Resorts by 154.1% in the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock valued at $66,844,000 after buying an additional 3,962,304 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Park Hotels & Resorts by 76.7% during the 2nd 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 lifted its holdings in shares of Park Hotels & Resorts by 34.6% during the 2nd 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. purchased a new position in shares of Park Hotels & Resorts during the 3rd quarter worth about $20,905,000. Finally, Donald Smith & CO. Inc. boosted its position in shares of Park Hotels & Resorts by 14.2% in 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 last quarter. 92.69% of the stock is 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.