Park Hotels & Resorts (NYSE:PK) Stock Rating Upgraded by Truist Securities


Park Hotels & Resorts (NYSE:PK) was upgraded by equities researchers at Truist Securities from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Price Targets.com reports. The firm presently has a $18.00 target price on the financial services provider’s stock. Truist Securities’ price target indicates a potential upside of 2.33% from the company’s previous close.

A number of other brokerages also recently commented on PK. Deutsche Bank Aktiengesellschaft upgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Wednesday, July 14th. Evercore ISI upgraded Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a report on Monday, July 12th. Truist upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating and set a $18.00 target price for the company in a report on Tuesday. Zacks Investment Research downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, April 29th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Park Hotels & Resorts in a report on Friday, August 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Park Hotels & Resorts has a consensus rating of “Hold” and an average target price of $18.03.


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Shares of Park Hotels & Resorts stock opened at $17.59 on Tuesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 3.72 and a current ratio of 4.07. The company has a market capitalization of $4.16 billion, a P/E ratio of -5.19 and a beta of 2.22. The company’s 50 day simple moving average is $19.50. Park Hotels & Resorts has a 52 week low of $8.42 and a 52 week high of $24.67.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Thursday, August 5th. The financial services provider reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.20). The business had revenue of $323.00 million for the quarter, compared to the consensus estimate of $258.94 million. Park Hotels & Resorts had a negative net margin of 114.31% and a negative return on equity of 16.74%. On average, equities analysts predict that Park Hotels & Resorts will post -0.9 EPS for the current year.


Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Walleye Trading LLC purchased a new stake in shares of Park Hotels & Resorts in the second quarter worth $211,000. Kingsview Wealth Management LLC grew its stake in shares of Park Hotels & Resorts by 11.5% in the second quarter. Kingsview Wealth Management LLC now owns 20,330 shares of the financial services provider’s stock worth $422,000 after acquiring an additional 2,100 shares during the last quarter. Brookfield Asset Management Inc. purchased a new stake in shares of Park Hotels & Resorts in the second quarter worth $126,440,000. Invesco Ltd. grew its stake in shares of Park Hotels & Resorts by 24.6% in the second quarter. Invesco Ltd. now owns 588,987 shares of the financial services provider’s stock worth $12,139,000 after acquiring an additional 116,306 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its position in shares of Park Hotels & Resorts by 93,203.1% during the second quarter. Metropolitan Life Insurance Co NY now owns 59,714 shares of the financial services provider’s stock valued at $1,231,000 after buying an additional 59,650 shares during the last quarter. 83.77% of the stock is currently owned by hedge funds and other institutional investors.


Park Hotels & Resorts Company Profile

Park is the second largest publicly traded lodging REIT with a diverse 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 center and resort locations.

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Analyst Recommendations for Park Hotels & Resorts (NYSE:<b><a href=PK)' width='650' height='330' />

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