UBS Group Cuts Park Hotels & Resorts (NYSE:PK) Price Target to $15.00

Park Hotels & Resorts (NYSE:PKGet Rating) had its target price lowered by UBS Group to $15.00 in a research note released on Tuesday morning, Stock Target Advisor reports.

Other equities research analysts have also recently issued research reports about the stock. Sumitomo Mitsui Financial Group cut shares of Park Hotels & Resorts from an outperform rating to a neutral rating and set a $16.00 target price on the stock. in a report on Monday, August 8th. Barclays decreased their price target on shares of Park Hotels & Resorts from $22.00 to $18.00 and set an equal weight rating on the stock in a research report on Thursday, July 7th. BMO Capital Markets downgraded shares of Park Hotels & Resorts from an outperform rating to a market perform rating and decreased their price target for the stock from $21.00 to $18.00 in a research report on Tuesday, August 16th. Wells Fargo & Company upgraded shares of Park Hotels & Resorts from an equal weight rating to an overweight rating and decreased their price target for the stock from $20.00 to $17.00 in a research report on Monday, August 29th. Finally, Truist Financial upgraded shares of Park Hotels & Resorts from a hold rating to a buy rating and increased their price target for the stock from $19.00 to $22.00 in a research report on Wednesday, June 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of Hold and a consensus price target of $19.79.

Park Hotels & Resorts Trading Down 0.4 %

Shares of PK stock opened at $14.26 on Tuesday. Park Hotels & Resorts has a 12-month low of $12.90 and a 12-month high of $21.62. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 1.09. The firm’s 50 day moving average is $14.62 and its 200 day moving average is $16.81. The stock has a market capitalization of $3.33 billion, a P/E ratio of -64.82 and a beta of 1.94.

Park Hotels & Resorts (NYSE:PKGet Rating) last issued its earnings results on Wednesday, August 3rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.19. Park Hotels & Resorts had a negative net margin of 2.93% and a negative return on equity of 1.38%. The company had revenue of $695.00 million for the quarter, compared to analysts’ expectations of $661.19 million. Research analysts expect that Park Hotels & Resorts will post 1.49 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $0.04 annualized dividend and a yield of 0.28%. Park Hotels & Resorts’s payout ratio is -18.18%.

Insider Activity at Park Hotels & Resorts

In related news, Director Thomas D. Eckert bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The stock was bought at an average cost of $15.12 per share, with a total value of $151,200.00. Following the completion of the purchase, the director now owns 96,637 shares of the company’s stock, valued at approximately $1,461,151.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Park Hotels & Resorts by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 33,696,042 shares of the financial services provider’s stock worth $658,084,000 after buying an additional 567,015 shares in the last quarter. BlackRock Inc. grew its stake in shares of Park Hotels & Resorts by 0.6% in the 1st quarter. BlackRock Inc. now owns 29,740,571 shares of the financial services provider’s stock worth $580,834,000 after buying an additional 182,269 shares in the last quarter. State Street Corp grew its stake in shares of Park Hotels & Resorts by 5.4% in the 2nd quarter. State Street Corp now owns 13,036,934 shares of the financial services provider’s stock worth $177,037,000 after buying an additional 662,640 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Park Hotels & Resorts by 0.8% during the 2nd quarter. Principal Financial Group Inc. now owns 8,755,233 shares of the financial services provider’s stock worth $118,809,000 after purchasing an additional 69,485 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Park Hotels & Resorts by 45.0% during the 4th quarter. JPMorgan Chase & Co. now owns 5,416,035 shares of the financial services provider’s stock worth $102,254,000 after purchasing an additional 1,680,145 shares during the period. 91.73% of the stock is owned by hedge funds and other institutional investors.

About Park Hotels & Resorts

(Get Rating)

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.

Featured Articles

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

Receive News & Ratings for Park Hotels & Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts and related companies with MarketBeat.com's FREE daily email newsletter.