Truist Financial Forecasts Strong Price Appreciation for Park Hotels & Resorts (NYSE:PK) Stock

Park Hotels & Resorts (NYSE:PK) had its target price raised by analysts at Truist Financial from $11.00 to $12.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 15.22% from the stock’s current price.

PK has been the topic of several other research reports. JPMorgan Chase & Co. upped their price objective on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 3rd. Weiss Ratings cut shares of Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. Wall Street Zen upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. LADENBURG THALM/SH SH initiated coverage on Park Hotels & Resorts in a research note on Thursday. They set a “buy” rating and a $16.00 price target on the stock. Finally, Zacks Research raised Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.67.

Park Hotels & Resorts Trading Down 2.8%

Park Hotels & Resorts stock opened at $10.42 on Thursday. The stock has a market cap of $2.10 billion, a PE ratio of -7.28 and a beta of 1.40. The stock has a 50-day moving average price of $11.05 and a 200 day moving average price of $10.98. Park Hotels & Resorts has a 52 week low of $8.27 and a 52 week high of $12.39. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.25.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, February 19th. The financial services provider reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $621.79 million. During the same quarter last year, the company posted $0.39 earnings per share. Park Hotels & Resorts’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. Equities research analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Christie B. Kelly bought 2,949 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was purchased at an average cost of $11.19 per share, for a total transaction of $32,999.31. Following the completion of the acquisition, the director owned 150,501 shares in the company, valued at $1,684,106.19. This trade represents a 2.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Park Hotels & Resorts

Large investors have recently bought and sold shares of the stock. Capital Fund Management S.A. increased its holdings in shares of Park Hotels & Resorts by 39.1% during the 2nd quarter. Capital Fund Management S.A. now owns 370,803 shares of the financial services provider’s stock worth $3,793,000 after buying an additional 104,307 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Park Hotels & Resorts by 21.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,634,643 shares of the financial services provider’s stock worth $40,272,000 after buying an additional 636,049 shares during the period. SAM Advisors LLC acquired a new position in Park Hotels & Resorts in the third quarter valued at $2,212,000. Citigroup Inc. boosted its holdings in Park Hotels & Resorts by 13.9% in the third quarter. Citigroup Inc. now owns 1,636,353 shares of the financial services provider’s stock valued at $18,131,000 after acquiring an additional 199,405 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in Park Hotels & Resorts by 370.3% during the second quarter. Squarepoint Ops LLC now owns 432,535 shares of the financial services provider’s stock valued at $4,425,000 after acquiring an additional 340,568 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.