Park Hotels & Resorts (NYSE:PK) Price Target Raised to $10.50

Park Hotels & Resorts (NYSE:PK) had its price objective upped by Morgan Stanley from $10.00 to $10.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential downside of 5.19% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Zacks Research upgraded shares of Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. JPMorgan Chase & Co. lifted their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 3rd. Barclays restated an “equal weight” rating and set a $9.00 price objective (down from $13.00) on shares of Park Hotels & Resorts in a research report on Tuesday, April 7th. Truist Financial boosted their price objective on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Thursday, March 26th. Finally, LADENBURG THALM/SH SH started coverage on shares of Park Hotels & Resorts in a research report on Thursday, March 26th. They set a “buy” rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $11.55.

Park Hotels & Resorts Price Performance

Shares of NYSE PK traded up $0.05 during midday trading on Tuesday, reaching $11.08. The company’s stock had a trading volume of 1,468,832 shares, compared to its average volume of 4,122,665. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.25 and a current ratio of 1.25. Park Hotels & Resorts has a fifty-two week low of $9.84 and a fifty-two week high of $12.39. The business’s 50 day moving average price is $10.91 and its two-hundred day moving average price is $10.91. The company has a market cap of $2.23 billion, a P/E ratio of -10.16, a P/E/G ratio of 1.54 and a beta of 1.37.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The business had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.78 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The firm’s quarterly 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. On average, analysts forecast that Park Hotels & Resorts will post 1.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Danske Bank A S acquired a new position in Park Hotels & Resorts during the third quarter valued at approximately $25,000. Fifth Third Bancorp increased its holdings in shares of Park Hotels & Resorts by 68.8% during the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,061 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Park Hotels & Resorts during the third quarter worth $34,000. Clearstead Advisors LLC increased its holdings in shares of Park Hotels & Resorts by 326.4% during the third quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock worth $35,000 after buying an additional 2,448 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Park Hotels & Resorts by 293.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock worth $54,000 after buying an additional 3,863 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.