Park Hotels & Resorts (PK) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research report report published on Friday.

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. “

PK has been the topic of a number of other reports. Evercore ISI cut Park Hotels & Resorts from an outperform rating to an in-line rating in a report on Monday, August 20th. Barclays reissued a buy rating on shares of Park Hotels & Resorts in a report on Friday, August 3rd. Deutsche Bank set a $32.00 price target on Park Hotels & Resorts and gave the company a hold rating in a report on Saturday, November 3rd. Jefferies Financial Group set a $38.00 price target on Park Hotels & Resorts and gave the company a buy rating in a report on Friday, August 3rd. Finally, Nomura raised their price target on Park Hotels & Resorts from $30.00 to $32.00 and gave the company a buy rating in a report on Friday, November 2nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $32.06.

Park Hotels & Resorts stock traded down $0.02 during trading on Friday, reaching $30.85. The company had a trading volume of 1,494,327 shares, compared to its average volume of 2,385,331. Park Hotels & Resorts has a 52 week low of $23.91 and a 52 week high of $34.27. The stock has a market cap of $6.21 billion, a P/E ratio of 11.10, a P/E/G ratio of 2.29 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 1.55.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Thursday, November 1st. The financial services provider reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.38). The company had revenue of $652.00 million during the quarter, compared to the consensus estimate of $656.61 million. Park Hotels & Resorts had a return on equity of 8.27% and a net margin of 17.46%. Park Hotels & Resorts’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 earnings per share. Analysts predict that Park Hotels & Resorts will post 2.84 EPS for the current year.

Institutional investors have recently modified their holdings of the company. Standard Life Aberdeen plc grew its position in shares of Park Hotels & Resorts by 163.4% during the second quarter. Standard Life Aberdeen plc now owns 45,392 shares of the financial services provider’s stock valued at $1,391,000 after purchasing an additional 28,159 shares in the last quarter. First Quadrant L P CA grew its position in shares of Park Hotels & Resorts by 245.4% during the second quarter. First Quadrant L P CA now owns 914,248 shares of the financial services provider’s stock valued at $28,003,000 after purchasing an additional 649,544 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Park Hotels & Resorts by 16.9% during the second quarter. Janus Henderson Group PLC now owns 26,547 shares of the financial services provider’s stock valued at $813,000 after purchasing an additional 3,847 shares in the last quarter. First Hawaiian Bank purchased a new position in shares of Park Hotels & Resorts during the third quarter valued at about $250,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Park Hotels & Resorts during the second quarter valued at about $330,000.

Park Hotels & Resorts Company Profile

Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. Park's portfolio consists of 54 premium-branded hotels and resorts with over 32,000 rooms, a majority of which are located in prime United States markets with high barriers to entry.

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