Wells Fargo & Company Upgrades Park Hotels & Resorts (NYSE:PK) to Hold

Park Hotels & Resorts (NYSE:PK) was upgraded by analysts at Wells Fargo & Company to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on PK. Barclays upped their price objective on Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Morgan Stanley boosted their target price on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $12.00 price target on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. Weiss Ratings raised shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Park Hotels & Resorts from $11.00 to $13.00 and gave the stock an “underweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Park Hotels & Resorts has an average rating of “Reduce” and an average target price of $13.18.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $14.76 on Thursday. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -13.54, a PEG ratio of 1.93 and a beta of 1.33. The business has a 50-day moving average of $13.81 and a 200-day moving average of $12.02. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25. Park Hotels & Resorts has a fifty-two week low of $9.84 and a fifty-two week high of $15.16.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.33). Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The company had revenue of $622.00 million for the quarter, compared to the consensus estimate of $609.77 million. During the same quarter in the previous year, the company posted $0.46 EPS. The business’s revenue was down 1.3% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, sell-side analysts predict that Park Hotels & Resorts will post 1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds have recently added to or reduced their stakes in PK. Sculptor Capital LP boosted its position in Park Hotels & Resorts by 154.1% during the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after purchasing an additional 3,962,304 shares during the period. AQR Capital Management LLC raised its position in shares of Park Hotels & Resorts by 76.7% in the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock valued at $79,230,000 after purchasing an additional 3,361,382 shares during the period. Bank of America Corp DE lifted its stake in shares of Park Hotels & Resorts by 34.6% during the 2nd quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider’s stock worth $131,666,000 after buying an additional 3,309,275 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Park Hotels & Resorts during the 3rd quarter worth about $20,905,000. Finally, Donald Smith & CO. Inc. boosted its holdings in shares of Park Hotels & Resorts by 14.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock worth $152,903,000 after buying an additional 1,813,338 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.