Wells Fargo & Company Issues Positive Forecast for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK) had its price target raised by equities researchers at Wells Fargo & Company from $15.00 to $16.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 3.35% from the stock’s current price.

Several other analysts also recently weighed in on PK. Morgan Stanley boosted their price target on Park Hotels & Resorts from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Monday, October 12th. Evercore set a $17.00 price objective on Park Hotels & Resorts in a research note on Monday. Barclays lifted their target price on Park Hotels & Resorts from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, August 27th. Raymond James Financial raised Park Hotels & Resorts from a “market perform” rating to a “strong-buy” rating and set a $19.00 target price for the company in a report on Monday, September 28th. Finally, UBS Group upgraded Park Hotels & Resorts from a “neutral” rating to a “hold” rating in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Hold” and a consensus target price of $16.64.

Park Hotels & Resorts Stock Performance

Shares of PK traded up $0.20 during trading hours on Monday, reaching $16.55. 465,594 shares of the company traded hands, compared to its average volume of 4,293,766. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.29. The business has a fifty day moving average price of $15.52 and a 200-day moving average price of $14.02. Park Hotels & Resorts has a 12-month low of $9.84 and a 12-month high of $17.14. The stock has a market capitalization of $3.33 billion, a P/E ratio of -19.97 and a beta of 1.36.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Thursday, August 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $680.00 million during the quarter, compared to analyst estimates of $659.68 million. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.900-2.000 EPS. Equities analysts anticipate that Park Hotels & Resorts will post 1.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Park Hotels & Resorts

Hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new position in Park Hotels & Resorts in the 2nd quarter worth approximately $25,000. Fifth Third Bancorp raised its position in Park Hotels & Resorts by 68.8% in the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,061 shares during the period. Nykredit A S purchased a new position in shares of Park Hotels & Resorts during the 2nd quarter worth $67,000. IFP Advisors Inc increased its position in shares of Park Hotels & Resorts by 182.5% during the 2nd quarter. IFP Advisors Inc now owns 5,065 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 3,272 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Park Hotels & Resorts by 23.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 5,091 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 982 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 (NYSE: PK) is a real estate investment trust focused on owning and operating hotels and resorts. The company’s portfolio includes full-service properties in major business and leisure destinations, with hotels operating under Hilton brands as well as other nationally recognized and independent brands.

Park’s properties provide lodging, food and beverage, meeting and event facilities, and other hospitality services. Its hotels are located primarily in the United States, including gateway cities, convention markets, and resort destinations.

Park Hotels & Resorts was formed in 2017 through a spin-off from Hilton Worldwide Holdings.