Park Hotels & Resorts (NYSE:PK) Price Target Lowered to $10.00 at Morgan Stanley

Park Hotels & Resorts (NYSE:PK - Get Free Report) had its price target decreased by research analysts at Morgan Stanley from $12.00 to $10.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price target suggests a potential upside of 1.86% from the stock's previous close.

PK has been the topic of a number of other research reports. Wells Fargo & Company dropped their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. StockNews.com cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Jefferies Financial Group cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $19.00 to $10.00 in a research note on Wednesday, April 9th. UBS Group cut their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Finally, Truist Financial cut their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.75.

Park Hotels & Resorts Stock Up 1.4 %

Shares of PK opened at $9.82 on Tuesday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73. The business's 50 day simple moving average is $11.19 and its 200-day simple moving average is $13.23. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. Park Hotels & Resorts has a 1 year low of $8.27 and a 1 year high of $16.95.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. As a group, equities analysts expect that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Institutional Trading of Park Hotels & Resorts

A number of hedge funds have recently added to or reduced their stakes in PK. MML Investors Services LLC increased its position in Park Hotels & Resorts by 55.1% during the third quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider's stock worth $347,000 after purchasing an additional 8,749 shares during the last quarter. Barclays PLC boosted its holdings in Park Hotels & Resorts by 22.4% in the third quarter. Barclays PLC now owns 319,593 shares of the financial services provider's stock valued at $4,507,000 after acquiring an additional 58,432 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Park Hotels & Resorts in the third quarter valued at $477,000. Tidal Investments LLC grew its position in Park Hotels & Resorts by 5.5% during the third quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider's stock valued at $275,000 after acquiring an additional 1,020 shares during the period. Finally, Franklin Resources Inc. increased its stake in Park Hotels & Resorts by 43.6% during the third quarter. Franklin Resources Inc. now owns 687,580 shares of the financial services provider's stock worth $9,936,000 after acquiring an additional 208,877 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.