Park Hotels & Resorts (NYSE:PK) Rating Lowered to Equal Weight at Capital One Financial

Park Hotels & Resorts (NYSE:PK) was downgraded by research analysts at Capital One Financial from an “overweight” rating to an “equal weight” rating in a research note issued on Monday, MarketBeat.com reports.

Several other analysts have also recently commented on the stock. Raymond James raised shares of Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and set a $16.00 target price for the company in a research note on Monday, June 8th. UBS Group lowered their target price on shares of Park Hotels & Resorts from $24.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Citigroup cut shares of Park Hotels & Resorts from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $24.00 to $6.50 in a research note on Tuesday, April 7th. Zacks Investment Research raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Park Hotels & Resorts from $19.00 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.29.

Shares of PK opened at $10.13 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 5.41 and a quick ratio of 5.41. The firm has a 50 day simple moving average of $10.29 and a 200-day simple moving average of $15.46. Park Hotels & Resorts has a 1-year low of $3.99 and a 1-year high of $28.03. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -5.17 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Monday, May 11th. The financial services provider reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.33). Park Hotels & Resorts had a negative return on equity of 7.95% and a negative net margin of 17.17%. The business had revenue of $599.00 million for the quarter, compared to analysts’ expectations of $572.02 million. During the same period last year, the business earned $0.67 earnings per share. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, equities analysts expect that Park Hotels & Resorts will post 0.22 earnings per share for the current fiscal year.

In other Park Hotels & Resorts news, Director Thomas A. Natelli bought 12,500 shares of Park Hotels & Resorts stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $11.10 per share, for a total transaction of $138,750.00. Following the acquisition, the director now owns 112,898 shares of the company’s stock, valued at approximately $1,253,167.80. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas A. Natelli bought 7,500 shares of Park Hotels & Resorts stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average price of $11.39 per share, for a total transaction of $85,425.00. Following the acquisition, the director now directly owns 112,898 shares in the company, valued at approximately $1,285,908.22. The disclosure for this purchase can be found here. Insiders have bought a total of 50,000 shares of company stock valued at $555,675 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Hedge funds have recently modified their holdings of the business. FSA Wealth Management LLC acquired a new position in Park Hotels & Resorts in the 4th quarter worth $27,000. Americana Partners LLC acquired a new position in Park Hotels & Resorts in the 4th quarter worth $29,000. Pearl River Capital LLC acquired a new position in Park Hotels & Resorts in the 1st quarter worth $34,000. Patriot Financial Group Insurance Agency LLC lifted its holdings in Park Hotels & Resorts by 3,452.0% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 4,440 shares of the financial services provider’s stock worth $35,000 after buying an additional 4,315 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new position in Park Hotels & Resorts in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 93.54% of the company’s stock.

Park Hotels & Resorts Company Profile

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 consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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

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