Park Hotels & Resorts (NYSE:PK) Stock Rating Lowered by Jefferies Financial Group

Park Hotels & Resorts (NYSE:PK) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. They presently have a $10.00 price objective on the financial services provider’s stock, down from their prior price objective of $19.00. Jefferies Financial Group’s target price indicates a potential upside of 6.10% from the company’s current price.

PK has been the topic of several other research reports. UBS Group decreased their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Truist Financial decreased their price objective on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company dropped their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Finally, StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.39.

Park Hotels & Resorts Price Performance

NYSE PK opened at $9.43 on Wednesday. The company has a 50-day moving average price of $11.65 and a 200-day moving average price of $13.47. Park Hotels & Resorts has a 52 week low of $8.27 and a 52 week high of $17.63. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $1.90 billion, a P/E ratio of 9.33, a PEG ratio of 1.51 and a beta of 1.73.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results 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). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The business had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $609.05 million. Equities research analysts anticipate that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Hedge Funds Weigh In On Park Hotels & Resorts

Several institutional investors have recently added to or reduced their stakes in PK. Norges Bank bought a new position in shares of Park Hotels & Resorts during the 4th quarter valued at approximately $41,087,000. Deutsche Bank AG raised its stake in Park Hotels & Resorts by 809.3% during the fourth quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider’s stock valued at $33,988,000 after purchasing an additional 2,149,972 shares in the last quarter. Landmark Investment Partners L.P. bought a new position in Park Hotels & Resorts during the fourth quarter valued at $21,342,000. Invesco Ltd. grew its stake in shares of Park Hotels & Resorts by 84.0% in the 4th quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider’s stock worth $39,929,000 after buying an additional 1,295,548 shares in the last quarter. Finally, Donald Smith & CO. Inc. increased its holdings in shares of Park Hotels & Resorts by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider’s stock worth $129,446,000 after buying an additional 1,122,839 shares during the last quarter. Hedge funds and other 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.