Park Hotels & Resorts (PK) Upgraded to “Buy” at SunTrust Banks

Park Hotels & Resorts (NYSE:PK) was upgraded by stock analysts at SunTrust Banks from a “hold” rating to a “buy” rating in a research note issued on Thursday, Marketbeat reports.

PK has been the topic of several other research reports. Nomura boosted their price objective on shares of Park Hotels & Resorts from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Evercore ISI raised shares of Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Finally, Boenning Scattergood set a $29.00 price objective on shares of Park Hotels & Resorts and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $34.87.

Park Hotels & Resorts (NYSE:PK) traded up $0.10 during trading hours on Thursday, reaching $29.00. 1,714,100 shares of the company traded hands, compared to its average volume of 1,991,309. Park Hotels & Resorts has a 1-year low of $24.65 and a 1-year high of $31.46. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.26 and a current ratio of 1.26.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. Park Hotels & Resorts had a net margin of 93.04% and a return on equity of 46.66%. The business had revenue of $688.00 million for the quarter, compared to analyst estimates of $676.76 million. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Park Hotels & Resorts’s quarterly revenue was up 2.5% on a year-over-year basis. research analysts anticipate that Park Hotels & Resorts will post 2.74 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of PK. Cbre Clarion Securities LLC lifted its stake in shares of Park Hotels & Resorts by 883.4% in the second quarter. Cbre Clarion Securities LLC now owns 6,037,093 shares of the financial services provider’s stock worth $162,760,000 after buying an additional 5,423,181 shares in the last quarter. Southeastern Asset Management Inc. TN bought a new position in Park Hotels & Resorts during the second quarter valued at approximately $110,520,000. BlackRock Inc. lifted its position in Park Hotels & Resorts by 57.5% during the second quarter. BlackRock Inc. now owns 9,743,370 shares of the financial services provider’s stock valued at $262,679,000 after purchasing an additional 3,558,810 shares during the period. Vanguard Group Inc. lifted its position in Park Hotels & Resorts by 15.1% during the second quarter. Vanguard Group Inc. now owns 22,577,650 shares of the financial services provider’s stock valued at $608,693,000 after purchasing an additional 2,963,035 shares during the period. Finally, State Street Corp lifted its position in Park Hotels & Resorts by 137.0% during the second quarter. State Street Corp now owns 3,664,272 shares of the financial services provider’s stock valued at $98,791,000 after purchasing an additional 2,118,313 shares during the period. Hedge funds and other institutional investors own 99.13% of the company’s stock.

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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.