Park Hotels & Resorts (NYSE:PK) Given New $10.00 Price Target at Wells Fargo & Company

Park Hotels & Resorts (NYSE:PK) had its target price dropped by equities research analysts at Wells Fargo & Company from $11.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential downside of 4.35% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Truist Financial reduced their price target on shares of Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 3rd. Barclays started coverage on shares of Park Hotels & Resorts in a research note on Tuesday, January 6th. They set an “overweight” rating and a $13.00 price objective on the stock. Wall Street Zen upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. Finally, Weiss Ratings lowered Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Reduce” and an average target price of $11.18.

Park Hotels & Resorts Stock Performance

Shares of PK stock traded up $0.02 on Tuesday, hitting $10.46. 127,453 shares of the stock traded hands, compared to its average volume of 4,011,593. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $2.10 billion, a PE ratio of -7.29 and a beta of 1.40. Park Hotels & Resorts has a 1-year low of $8.27 and a 1-year high of $12.39. The company’s fifty day moving average is $11.12 and its 200 day moving average is $11.00.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Thursday, February 19th. The financial services provider reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $621.79 million. During the same period in the prior year, the firm earned $0.39 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. On average, equities research analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Park Hotels & Resorts

In other news, Director Christie B. Kelly acquired 2,949 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The shares were acquired at an average price of $11.19 per share, with a total value of $32,999.31. Following the acquisition, the director directly owned 150,501 shares in the company, valued at approximately $1,684,106.19. The trade was a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PK. Danske Bank A S acquired a new stake in Park Hotels & Resorts in the third quarter worth approximately $25,000. Parvin Asset Management LLC acquired a new position in shares of Park Hotels & Resorts during the 2nd quarter valued at $26,000. Advisory Services Network LLC acquired a new position in shares of Park Hotels & Resorts during the 3rd quarter valued at $34,000. Clearstead Advisors LLC raised its stake in shares of Park Hotels & Resorts by 326.4% in the 3rd quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock worth $35,000 after buying an additional 2,448 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Park Hotels & Resorts by 293.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock worth $54,000 after buying an additional 3,863 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

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.