Park Hotels & Resorts Inc. (NYSE:PK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $30.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.53% from the company’s previous close.

According to Zacks, “Park Hotels & Resorts Inc. is a lodging Real Estate Company. The company operates luxury hotels and resorts in USA and international market. Park Hotels & Resorts Inc. is based in Mc Lean, Virginia. “

PK has been the subject of several other reports. Jefferies Group LLC lifted their price objective on Park Hotels & Resorts from $58.00 to $69.00 and gave the company a “hold” rating in a report on Tuesday, June 20th. Evercore ISI initiated coverage on Park Hotels & Resorts in a report on Wednesday, May 31st. They issued an “outperform” rating and a $28.00 price objective for the company. Boenning Scattergood restated an “outperform” rating and issued a $30.00 price objective on shares of Park Hotels & Resorts in a report on Tuesday, April 18th. Deutsche Bank AG initiated coverage on Park Hotels & Resorts in a report on Wednesday, April 12th. They issued a “hold” rating and a $28.00 price objective for the company. Finally, Cowen and Company lifted their price objective on Park Hotels & Resorts from $61.00 to $70.00 and gave the company a “market perform” rating in a report on Tuesday, June 20th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $34.80.

Shares of Park Hotels & Resorts (NYSE:PK) opened at 26.66 on Tuesday. The stock has a 50 day moving average of $27.16 and a 200-day moving average of $26.56. Park Hotels & Resorts has a 52-week low of $24.65 and a 52-week high of $33.40. The stock has a market capitalization of $5.73 billion and a P/E ratio of 2.28.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.04. The firm had revenue of $733 million during the quarter, compared to the consensus estimate of $716.51 million. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Analysts predict that Park Hotels & Resorts will post $11.94 EPS for the current fiscal year.

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In other Park Hotels & Resorts news, major shareholder Hlt Holdco Iii Prime Llc sold 15,000,000 shares of Park Hotels & Resorts stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $26.05, for a total value of $390,750,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is owned by insiders.

Several large investors have recently modified their holdings of PK. Loeb Partners Corp raised its stake in shares of Park Hotels & Resorts by 96.4% in the second quarter. Loeb Partners Corp now owns 19,707 shares of the financial services provider’s stock worth $532,000 after buying an additional 9,675 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Park Hotels & Resorts by 1.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 24,246 shares of the financial services provider’s stock worth $654,000 after buying an additional 450 shares during the last quarter. Strs Ohio raised its stake in shares of Park Hotels & Resorts by 122,116.2% in the second quarter. Strs Ohio now owns 166,214 shares of the financial services provider’s stock worth $4,481,000 after buying an additional 166,078 shares during the last quarter. Balasa Dinverno & Foltz LLC acquired a new stake in shares of Park Hotels & Resorts during the second quarter worth $307,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Park Hotels & Resorts during the second quarter worth $695,000. Institutional investors and hedge funds own 97.07% of the company’s stock.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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

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