Park Hotels & Resorts (NYSE:PK) Price Target Raised to $13.00

Park Hotels & Resorts (NYSE:PK) had its price target raised by JPMorgan Chase & Co. from $11.00 to $13.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. Morgan Stanley lifted their target price on Park Hotels & Resorts from $10.50 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. LADENBURG THALM/SH SH lifted 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 report on Tuesday, June 16th. Weiss Ratings upgraded shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Wells Fargo & Company lifted their target price on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, June 18th. Finally, Truist Financial boosted their price target on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Reduce” and a consensus target price of $13.18.

Park Hotels & Resorts Stock Down 3.1%

Shares of NYSE PK opened at $14.59 on Tuesday. The stock has a market cap of $2.94 billion, a PE ratio of -13.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts has a 52-week low of $9.84 and a 52-week high of $15.16. The business has a 50-day moving average price of $13.73 and a 200 day moving average price of $12.00.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Thursday, April 30th. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). The business had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.77 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Equities research analysts forecast that Park Hotels & Resorts will post 1.77 earnings per share for the current year.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors have recently bought and sold shares of PK. Danske Bank A S purchased a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at $25,000. Fifth Third Bancorp boosted its position in Park Hotels & Resorts by 68.8% during the 1st quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,061 shares during the period. Advisory Services Network LLC purchased a new stake in Park Hotels & Resorts during the 3rd quarter worth $34,000. Harbor Capital Advisors Inc. increased its holdings in 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 valued at $54,000 after purchasing an additional 3,863 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Park Hotels & Resorts by 33.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 1,464 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.