Park Hotels & Resorts (NYSE:PK) Price Target Lowered to $13.00 at UBS Group

Park Hotels & Resorts (NYSE:PK - Get Free Report) had its target price dropped by analysts at UBS Group from $15.00 to $13.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. UBS Group's price target suggests a potential downside of 0.04% from the company's current price.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price objective on Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Monday, December 9th. Bank of America cut their target price on Park Hotels & Resorts from $17.00 to $16.50 and set a "neutral" rating on the stock in a research report on Monday, October 21st. Jefferies Financial Group dropped their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. StockNews.com raised shares of Park Hotels & Resorts from a "sell" rating to a "hold" rating in a research note on Tuesday, January 28th. Finally, Compass Point dropped their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.45.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK traded down $0.49 on Monday, reaching $13.01. The company's stock had a trading volume of 1,924,068 shares, compared to its average volume of 3,506,105. The company has a 50-day simple moving average of $14.54 and a 200 day simple moving average of $14.48. Park Hotels & Resorts has a 52-week low of $12.80 and a 52-week high of $18.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The company has a market cap of $2.68 billion, a P/E ratio of 8.27 and a beta of 2.00.

Institutional Trading of Park Hotels & Resorts

Several institutional investors and hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at $33,000. Venturi Wealth Management LLC boosted its position in Park Hotels & Resorts by 281.6% during the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 2,841 shares in the last quarter. Claro Advisors LLC purchased a new position in Park Hotels & Resorts in the third quarter valued at about $69,000. Covestor Ltd raised its holdings in Park Hotels & Resorts by 64.8% in the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider's stock worth $97,000 after purchasing an additional 2,711 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Park Hotels & Resorts by 34.4% during the third quarter. KBC Group NV now owns 7,360 shares of the financial services provider's stock valued at $104,000 after buying an additional 1,882 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

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.

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