Park Hotels & Resorts (NYSE:PK) Price Target Lowered to $20.00 at Compass Point

Park Hotels & Resorts (NYSE:PK - Free Report) had its price objective lowered by Compass Point from $25.00 to $20.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the financial services provider's stock.

Several other brokerages also recently issued reports on PK. Wells Fargo & Company cut their target price on Park Hotels & Resorts from $17.00 to $14.50 and set an "equal weight" rating on the stock in a research note on Friday, September 13th. Evercore ISI cut their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 13th. Wolfe Research cut Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a report on Thursday, September 26th. StockNews.com upgraded Park Hotels & Resorts from a "sell" rating to a "hold" rating in a report on Wednesday. Finally, Bank of America decreased their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a "neutral" rating for the company in a research note on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $17.58.

Park Hotels & Resorts Trading Down 1.1 %

Shares of PK stock traded down $0.16 on Thursday, reaching $13.90. 5,593,266 shares of the stock were exchanged, compared to its average volume of 2,741,379. The stock has a 50 day moving average price of $14.42 and a 200 day moving average price of $14.95. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market cap of $2.90 billion, a PE ratio of 9.76, a P/E/G ratio of 0.72 and a beta of 2.02. Park Hotels & Resorts has a one year low of $11.23 and a one year high of $18.05.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.30). The company had revenue of $686.00 million during the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. Equities research analysts forecast that Park Hotels & Resorts will post 2.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors have recently made changes to their positions in the stock. Asset Management One Co. Ltd. lifted its stake in shares of Park Hotels & Resorts by 6.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 337,021 shares of the financial services provider's stock valued at $4,752,000 after purchasing an additional 20,327 shares during the period. Van ECK Associates Corp lifted its stake in Park Hotels & Resorts by 12.3% in the third quarter. Van ECK Associates Corp now owns 35,957 shares of the financial services provider's stock valued at $492,000 after buying an additional 3,947 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Park Hotels & Resorts during the 3rd quarter worth approximately $33,000. Private Management Group Inc. increased its stake in shares of Park Hotels & Resorts by 11.2% in the 3rd quarter. Private Management Group Inc. now owns 2,225,243 shares of the financial services provider's stock valued at $31,376,000 after acquiring an additional 223,562 shares in the last quarter. Finally, Donald Smith & CO. Inc. lifted its position in shares of Park Hotels & Resorts by 22.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider's stock valued at $113,890,000 after acquiring an additional 1,484,295 shares during the period. Institutional investors own 92.69% of the company's stock.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.