Park Hotels & Resorts (NYSE:PK) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Park Hotels & Resorts (NYSE:PK) had its target price increased by equities researchers at JPMorgan Chase & Co. from $11.00 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 13.71% from the company’s previous close.

PK has been the topic of a number of other reports. Weiss Ratings upgraded Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. LADENBURG THALM/SH SH boosted their price objective on Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Wells Fargo & Company upped their price objective on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 18th. Morgan Stanley lifted their target price on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $12.00 price target on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $13.18.

Park Hotels & Resorts Stock Up 0.0%

PK opened at $15.06 on Tuesday. The firm has a market capitalization of $3.03 billion, a P/E ratio of -13.82, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Park Hotels & Resorts has a one year low of $9.84 and a one year high of $15.17. The company has a fifty day moving average price of $13.66 and a 200-day moving average price of $11.97. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). The business had revenue of $622.00 million during the quarter, compared to analysts’ expectations of $609.77 million. Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Equities research analysts expect that Park Hotels & Resorts will post 1.77 earnings per share for the current fiscal year.

Institutional Trading of Park Hotels & Resorts

Several large investors have recently modified their holdings of the business. Donald Smith & CO. Inc. lifted its holdings in Park Hotels & Resorts by 14.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock worth $152,903,000 after buying an additional 1,813,338 shares during the period. Bank of America Corp DE boosted its holdings in shares of Park Hotels & Resorts by 1.6% during the 3rd quarter. Bank of America Corp DE now owns 13,074,474 shares of the financial services provider’s stock valued at $144,865,000 after buying an additional 203,922 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Park Hotels & Resorts by 76.7% in the 2nd quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after buying an additional 3,361,382 shares during the period. Sculptor Capital LP grew its position in shares of Park Hotels & Resorts by 154.1% in the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after buying an additional 3,962,304 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Park Hotels & Resorts by 6.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,257,003 shares of the financial services provider’s stock worth $44,528,000 after acquiring an additional 273,410 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

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.