Park Hotels & Resorts (NYSE:PK) was upgraded by stock analysts at Evercore ISI to an “outperform” rating in a report released on Thursday, The Fly reports.
A number of other research firms have also recently weighed in on PK. Zacks Investment Research cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday. Deutsche Bank set a $33.00 price target on Park Hotels & Resorts and gave the stock a “hold” rating in a report on Wednesday, July 31st. TheStreet cut Park Hotels & Resorts from a “b-” rating to a “c” rating in a report on Wednesday, June 5th. Citigroup lowered their price target on Park Hotels & Resorts from $31.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Capital One Financial assumed coverage on Park Hotels & Resorts in a report on Tuesday, June 25th. They issued an “overweight” rating and a $34.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $30.80.
Shares of PK stock opened at $25.72 on Thursday. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 2.24 and a beta of 1.31. The stock has a 50 day simple moving average of $24.50 and a 200-day simple moving average of $28.51. Park Hotels & Resorts has a 12-month low of $23.02 and a 12-month high of $33.81. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.56.
Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.42). The business had revenue of $703.00 million for the quarter, compared to analysts’ expectations of $694.08 million. Park Hotels & Resorts had a return on equity of 5.06% and a net margin of 10.52%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the company posted $0.93 earnings per share. On average, equities analysts forecast that Park Hotels & Resorts will post 2.87 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the business. Adelante Capital Management LLC purchased a new stake in shares of Park Hotels & Resorts during the first quarter worth about $2,106,000. State of Alaska Department of Revenue acquired a new position in Park Hotels & Resorts in the second quarter worth about $1,690,000. Cascade Investment Advisors Inc. grew its stake in Park Hotels & Resorts by 24.8% in the second quarter. Cascade Investment Advisors Inc. now owns 28,358 shares of the financial services provider’s stock worth $765,000 after purchasing an additional 5,637 shares in the last quarter. Aperio Group LLC grew its stake in Park Hotels & Resorts by 1,065.3% in the second quarter. Aperio Group LLC now owns 413,435 shares of the financial services provider’s stock worth $11,146,000 after purchasing an additional 377,955 shares in the last quarter. Finally, Forsta AP Fonden acquired a new position in Park Hotels & Resorts in the second quarter worth about $1,429,000.
About Park Hotels & Resorts
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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