JPMorgan Chase & Co. Issues Positive Forecast for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $11.00 to $13.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 12.78% from the stock’s previous close.

A number of other analysts have also recently commented on PK. Morgan Stanley upped their price objective on Park Hotels & Resorts from $10.50 to $11.00 and gave the company an “equal weight” rating in a research report on Friday. Cantor Fitzgerald restated a “neutral” rating and set a $12.00 price objective on shares of Park Hotels & Resorts in a research report on Wednesday, May 13th. BMO Capital Markets reissued a “market perform” rating and issued a $14.00 price target on shares of Park Hotels & Resorts in a report on Friday, June 12th. Wells Fargo & Company boosted their price target on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 18th. Finally, Weiss Ratings upgraded Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Reduce” and an average target price of $13.18.

Park Hotels & Resorts Stock Performance

NYSE:PK traded up $0.07 during mid-day trading on Tuesday, reaching $14.90. The company’s stock had a trading volume of 804,630 shares, compared to its average volume of 4,506,267. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27. The stock has a market cap of $3.00 billion, a P/E ratio of -13.66, a PEG ratio of 2.00 and a beta of 1.33. The firm’s fifty day moving average price is $13.49 and its two-hundred day moving average price is $11.91. Park Hotels & Resorts has a 12-month low of $9.84 and a 12-month high of $15.09.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $622.00 million for the quarter, compared to analysts’ expectations of $609.77 million. During the same period in the previous year, the business earned $0.46 EPS. The business’s revenue 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, equities analysts forecast that Park Hotels & Resorts will post 1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Sculptor Capital LP grew its position 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 acquiring an additional 3,962,304 shares during the last quarter. AQR Capital Management LLC lifted its position 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 purchasing an additional 3,361,382 shares during the last quarter. Bank of America Corp DE boosted its stake 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 valued at $131,666,000 after purchasing an additional 3,309,275 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Park Hotels & Resorts during the third quarter valued at $20,905,000. Finally, Donald Smith & CO. Inc. grew its holdings 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 purchasing an additional 1,813,338 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.