Park Hotels & Resorts (NYSE:PK) upgraded to buy by Truist Financial

0

Park Hotels & Resorts (NYSE:PK – Get a Rating) was upgraded by investment analysts Truist Financial from a “hold” rating to a “buy” rating in a research note released Wednesday, The Fly reports.

A number of other research analysts also weighed in on the stock. Deutsche Bank Aktiengesellschaft raised its price target on shares of Park Hotels & Resorts from $26.00 to $28.00 in a Tuesday, May 3 research note. Zacks Investment Research upgraded shares of Park Hotels & Resorts from a “sell” to a “hold” rating in a Saturday, April 16 report. TheStreet upgraded shares of Park Hotels & Resorts from a “d+” rating to a “c-” rating in a Friday, February 18 report. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a Tuesday, May 3 report. Finally, Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and lowered its target price for the company from $25.00 to $19.00 in a report from the Wednesday March 30. One analyst assigned the stock a sell rating, seven issued a hold rating and four issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.86.

Shares of Park Hotels & Resorts opened Wednesday at $18.06. Park Hotels & Resorts has a 1-year minimum of $15.57 and a 1-year maximum of $22.42. The company has a market capitalization of $4.21 billion, a price-earnings ratio of -13.18 and a beta of 1.88. The company’s fifty-day moving average price is $18.67 and its two-hundred-day moving average price is $18.62. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt ratio of 1.09.

Park Hotels & Resorts (NYSE:PK – Get Rating) last released quarterly earnings data on Monday, May 2. The financial services provider reported ($0.24) earnings per share for the quarter, missing analyst consensus estimates of $0.01 per ($0.25). Park Hotels & Resorts recorded a negative net margin of 19.45% and a negative return on equity of 7.37%. The company posted revenue of $479.00 million in the quarter, versus a consensus estimate of $420.53 million. During the same period last year, the company posted ($0.48) earnings per share. The company’s quarterly revenue increased 190.3% year over year. On average, research analysts expect Park Hotels & Resorts to post 1.16 EPS for the current year.

Hedge funds and other institutional investors have recently changed their stock holdings. Rockefeller Capital Management LP increased its position in Park Hotels & Resorts by 166.3% during the fourth quarter. Rockefeller Capital Management LP now owns 1,518 shares of the financial services provider valued at $28,000 after purchasing an additional 948 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Park Hotels & Resorts during Q4, valued at around $43,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Park Hotels & Resorts by 54.9% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,883 shares of the financial services provider valued at $57,000 after acquiring an additional 1,022 shares during the period. Moors & Cabot Inc. purchased a new equity stake in Park Hotels & Resorts during Q3 valued at approximately $71,000. Finally, Penserra Capital Management LLC increased its position in Park Hotels & Resorts shares by 68.6% during the third quarter. Penserra Capital Management LLC now owns 5,675 shares of the financial services provider valued at $108,000 after buying 2,309 additional shares in the last quarter. 90.60% of the shares are currently held by institutional investors.

Park Hotels & Resorts Company Profile (Get a rating)

Park is the second-largest publicly traded accommodation REIT with a diversified portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 60 premium branded hotels and resorts with over 33,000 rooms primarily located in prime city centers and resorts.

Further reading

The Fly logo

Analyst Recommendations for Park Hotels & Resorts (NYSE: PK)



Receive daily news and reviews for Park Hotels & Resorts – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Park Hotels & Resorts and related companies with MarketBeat.com’s free daily email newsletter.

Share.

Comments are closed.