Wells Fargo & Company Lowers Park Hotels & Resorts (NYSE:PK) Price Target to $10.00

Park Hotels & Resorts (NYSE:PK) had its price target decreased by equities researchers at Wells Fargo & Company from $11.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 5.60% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Barclays assumed coverage on shares of Park Hotels & Resorts in a research note on Tuesday, January 6th. They issued an “overweight” rating and a $13.00 price objective on the stock. Zacks Research raised shares of Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Weiss Ratings lowered shares of Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. Morgan Stanley set a $10.00 price objective on shares of Park Hotels & Resorts in a research note on Friday, January 16th. Finally, Wall Street Zen raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $11.18.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $10.59 on Tuesday. The stock has a fifty day moving average price of $11.09 and a 200 day moving average price of $10.99. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $2.13 billion, a PE ratio of -7.41 and a beta of 1.40. Park Hotels & Resorts has a 1 year low of $8.27 and a 1 year high of $12.39.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Thursday, February 19th. The financial services provider reported ($1.04) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($1.50). Park Hotels & Resorts had a negative net margin of 11.14% and a negative return on equity of 8.56%. The firm had revenue of $629.00 million during the quarter, compared to analyst estimates of $621.79 million. During the same period last year, the company posted $0.39 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. Sell-side analysts forecast that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Christie B. Kelly acquired 2,949 shares of the company’s stock in a transaction dated Wednesday, January 14th. The stock was bought at an average price of $11.19 per share, with a total value of $32,999.31. Following the purchase, the director directly owned 150,501 shares in the company, valued at $1,684,106.19. The trade was a 2.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds have recently modified their holdings of the stock. Danske Bank A S purchased a new stake in Park Hotels & Resorts during the third quarter worth approximately $25,000. Parvin Asset Management LLC purchased a new position in shares of Park Hotels & Resorts in the 2nd quarter valued at $26,000. Advisory Services Network LLC purchased a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at $34,000. Clearstead Advisors LLC lifted its holdings in shares of Park Hotels & Resorts by 326.4% during the 3rd quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 2,448 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Park Hotels & Resorts by 293.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 3,863 shares in the last quarter. 92.69% of the stock is 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.