Park Hotels & Resorts (NYSE:PK) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday, Zacks.com reports.
According to Zacks, “Park Hotels & Resorts Inc. is a lodging Real Estate Company. The company operates luxury hotels and resorts in USA and international market. Park Hotels & Resorts Inc. is based in Mc Lean, Virginia.”
Several other research analysts have also commented on the company. Bank of America lowered Park Hotels & Resorts from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $24.00 to $23.00 in a report on Monday, January 10th. The Goldman Sachs Group lowered Park Hotels & Resorts from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $20.00 to $18.00 in a report on Tuesday, December 14th. Wells Fargo & Company lowered Park Hotels & Resorts from an “overweight” rating to an “equal weight” rating in a report on Monday, October 18th. Citigroup reduced their price target on Park Hotels & Resorts from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, October 6th. Finally, UBS Group cut shares of Park Hotels & Resorts to a “neutral” rating in a research report on Monday, January 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Hold” and an average price target of $22.14.
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Shares of PC stock opened at $18.15 on Thursday. The stock’s fifty day moving average is $18.40 and its two-hundred day moving average is $18.79. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market capitalization of $4.29 billion, a P/E ratio of -7.03 and a beta of 2.10. Park Hotels & Resorts has a fifty-two week low of $15.77 and a fifty-two week high of $24.67.
Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, November 3rd. The financial services provider reported ($0.36) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.37). Park Hotels & Resorts had a negative return on equity of 13.16% and a negative net margin of 59.47%. The company had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $416.88 million. During the same quarter in the prior year, the firm earned ($0.63) EPS. On average, equities analysts forecast that Park Hotels & Resorts will post -0.64 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in PK. Bank of Montreal Can grew its holdings in shares of Park Hotels & Resorts by 60.4% in the second quarter. Bank of Montreal can now owns 255,506 shares of the financial services provider’s stock valued at $5,212,000 after purchasing an additional 96,174 shares in the last quarter. Penserra Capital Management LLC acquired a new position in Park Hotels & Resorts during the 2nd quarter worth approximately $69,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Park Hotels & Resorts during the 2nd quarter worth approximately $1,187,000. AlphaCrest Capital Management LLC acquired a new position in Park Hotels & Resorts during the 2nd quarter worth approximately $202,000. Finally, Profund Advisors LLC grew its holdings in Park Hotels & Resorts by 4.2% during the 2nd quarter. Profund Advisors LLC now owns 13,220 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 533 shares in the last quarter. Hedge funds and other institutional investors own 85.68% of the company’s stock.
About Park Hotels & Resorts
Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.
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