Park Hotels & Resorts Inc. (NYSE:PK) Receives Consensus Rating of “Reduce” from Brokerages

Park Hotels & Resorts Inc. (NYSE:PK) has received a consensus rating of “Reduce” from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $13.1818.

Several equities research analysts have weighed in on PK shares. Wells Fargo & Company raised shares of Park Hotels & Resorts to a “hold” rating in a research report on Thursday, July 23rd. BMO Capital Markets restated a “market perform” rating and issued a $14.00 price objective on shares of Park Hotels & Resorts in a research report on Friday, June 12th. LADENBURG THALM/SH SH upped their price objective on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Cantor Fitzgerald reiterated a “neutral” rating and set a $12.00 target price on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. raised their target price on Park Hotels & Resorts from $11.00 to $13.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st.

Park Hotels & Resorts Price Performance

Shares of Park Hotels & Resorts stock opened at $14.96 on Thursday. 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 has a one year low of $9.84 and a one year high of $15.48. The business’s 50 day simple moving average is $14.38 and its two-hundred day simple moving average is $12.25. The stock has a market capitalization of $3.01 billion, a P/E ratio of -13.72, a price-to-earnings-growth ratio of 1.98 and a beta of 1.34.

Institutional Investors Weigh In On Park Hotels & Resorts

Large investors have recently modified their holdings of the stock. Amundi increased its stake in shares of Park Hotels & Resorts by 1.9% during the first quarter. Amundi now owns 115,143 shares of the financial services provider’s stock valued at $1,119,000 after purchasing an additional 2,179 shares in the last quarter. Millennium Management LLC boosted its position in shares of Park Hotels & Resorts by 849.3% in the 1st quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock worth $5,595,000 after purchasing an additional 468,668 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Park Hotels & Resorts in the 1st quarter worth approximately $152,000. Empowered Funds LLC grew its stake in shares of Park Hotels & Resorts by 10.1% in the 1st quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock worth $239,000 after buying an additional 2,058 shares during the last quarter. Finally, Focus Partners Wealth increased its position in Park Hotels & Resorts by 30.6% during the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock valued at $199,000 after buying an additional 4,374 shares in the last quarter. 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.