Park Hotels & Resorts (NYSE:PK) Stock Gets Price Target Increase from Cantor Fitzgerald

Park Hotels & Resorts (NYSE:PK) had its price target upped by investment analysts at Cantor Fitzgerald from $15.00 to $17.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Cantor Fitzgerald‘s price target suggests a potential upside of 3.03% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Park Hotels & Resorts from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Wednesday, October 21st. Wells Fargo & Company raised their price objective on shares of Park Hotels & Resorts from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, October 26th. Zacks Research upgraded shares of Park Hotels & Resorts from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 29th. Evercore set a $17.00 price target on Park Hotels & Resorts in a report on Monday, October 26th. Finally, UBS Group upgraded Park Hotels & Resorts from a “neutral” rating to a “hold” rating in a research report on Monday, September 28th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.82.

Park Hotels & Resorts Stock Up 4.8%

PK opened at $16.50 on Tuesday. The company has a market capitalization of $3.32 billion, a P/E ratio of -19.41 and a beta of 1.41. The firm’s fifty day moving average price is $15.69 and its two-hundred day moving average price is $13.38. Park Hotels & Resorts has a fifty-two week low of $9.84 and a fifty-two week high of $17.14. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.53 and a quick ratio of 1.53.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, November 4th. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.12). Park Hotels & Resorts had a negative return on equity of 5.41% and a negative net margin of 6.51%. The business had revenue of $602.00 million during the quarter, compared to analyst estimates of $601.95 million. During the same period last year, the company earned $0.35 EPS. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts anticipate that Park Hotels & Resorts will post 1.87 EPS for the current year.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Park Hotels & Resorts in the 2nd quarter valued at $444,311,000. Donald Smith & CO. Inc. bought a new position in Park Hotels & Resorts during the 2nd quarter worth about $207,120,000. Bank of America Corp DE acquired a new stake in shares of Park Hotels & Resorts in the 2nd quarter valued at about $136,488,000. Fisher Asset Management LLC raised its stake in shares of Park Hotels & Resorts by 153.0% in the 3rd quarter. Fisher Asset Management LLC now owns 3,749,646 shares of the financial services provider’s stock valued at $57,820,000 after purchasing an additional 2,267,476 shares during the period. Finally, Aegis Financial Corp bought a new stake in shares of Park Hotels & Resorts in the second quarter valued at about $21,735,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a lodging real estate investment trust that owns and manages a portfolio of hotels and resorts. Its properties are generally operated by hotel companies under well-known brands, while Park focuses on hotel ownership and asset management.

The company’s portfolio includes luxury and full-service properties serving business and leisure travelers. Many of its hotels operate under Hilton-affiliated brands, including Hilton, Waldorf Astoria, Conrad, DoubleTree and Embassy Suites.

Park was formed in 2017 when Hilton Worldwide Holdings spun off its hotel real estate business.