Park Hotels & Resorts (NYSE:PK) Given New $16.00 Price Target at Truist Financial

Park Hotels & Resorts (NYSE:PK - Get Free Report) had its price target cut by equities research analysts at Truist Financial from $18.00 to $16.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. Truist Financial's target price points to a potential upside of 40.85% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company dropped their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. UBS Group decreased their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. StockNews.com cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, February 21st. Finally, Jefferies Financial Group reduced their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Park Hotels & Resorts currently has an average rating of "Hold" and an average target price of $17.72.

Remove Ads

Park Hotels & Resorts Stock Down 1.3 %

Shares of NYSE PK traded down $0.15 during trading on Friday, reaching $11.36. 3,990,432 shares of the stock were exchanged, compared to its average volume of 2,880,736. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02. The business's 50-day moving average price is $12.64 and its 200 day moving average price is $13.89. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts has a twelve month low of $10.87 and a twelve month high of $17.87.

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

Hedge Funds Weigh In On Park Hotels & Resorts

A number of large investors have recently bought and sold shares of PK. Donald Smith & CO. Inc. grew its holdings in shares of Park Hotels & Resorts by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider's stock valued at $129,446,000 after purchasing an additional 1,122,839 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Park Hotels & Resorts by 18.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,692,233 shares of the financial services provider's stock valued at $94,160,000 after purchasing an additional 1,056,188 shares during the period. Allianz Asset Management GmbH grew its stake in Park Hotels & Resorts by 3.6% during the 4th quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider's stock worth $50,426,000 after buying an additional 125,730 shares during the last quarter. JPMorgan Chase & Co. increased its position in Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider's stock worth $49,182,000 after buying an additional 540,920 shares during the period. Finally, Norges Bank bought a new stake in Park Hotels & Resorts in the fourth quarter valued at $41,087,000. Institutional investors own 92.69% of the company's stock.

About Park Hotels & Resorts

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.