JPMorgan Chase & Co. Raises Park Hotels & Resorts (NYSE:PK) Price Target to $14.00

Park Hotels & Resorts (NYSE:PK) had its price target raised by JPMorgan Chase & Co. from $13.00 to $14.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 2.81% from the stock’s current price.

Several other research analysts have also weighed in on the stock. LADENBURG THALM/SH SH lifted their price objective on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $12.00 target price on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. Wells Fargo & Company raised shares of Park Hotels & Resorts to a “hold” rating in a research report on Thursday, July 23rd. Weiss Ratings raised shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Finally, Truist Financial increased their price target on Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $13.27.

Park Hotels & Resorts Trading Down 2.4%

NYSE PK traded down $0.35 on Monday, reaching $14.40. The company had a trading volume of 1,326,753 shares, compared to its average volume of 4,495,264. The stock’s 50 day moving average is $14.48 and its 200-day moving average is $12.29. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -17.36, a PEG ratio of 1.95 and a beta of 1.34. The company has a quick ratio of 1.25, a current ratio of 1.53 and a debt-to-equity ratio of 1.29. Park Hotels & Resorts has a 52 week low of $9.84 and a 52 week high of $15.48.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The firm had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $659.68 million. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%.The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. Equities analysts predict that Park Hotels & Resorts will post 1.79 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Great Lakes Advisors LLC acquired a new stake in Park Hotels & Resorts in the 2nd quarter valued at approximately $160,000. Diversify Advisory Services LLC acquired a new position in Park Hotels & Resorts during the 2nd quarter worth approximately $1,000,000. BlackRock Inc. bought a new position in shares of Park Hotels & Resorts during the 2nd quarter worth approximately $444,311,000. Pallas Capital Advisors LLC bought a new position in shares of Park Hotels & Resorts during the 2nd quarter worth approximately $647,000. Finally, Deutsche Bank AG acquired a new stake in shares of Park Hotels & Resorts in the second quarter valued at approximately $5,851,000. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Company Profile

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.