Park Hotels & Resorts (PK) PT Set at $32.00 by Deutsche Bank

Deutsche Bank set a $32.00 price objective on Park Hotels & Resorts (NYSE:PK) in a research report released on Saturday. The brokerage currently has a hold rating on the financial services provider’s stock.

PK has been the topic of several other reports. Zacks Investment Research downgraded shares of Park Hotels & Resorts from a strong-buy rating to a hold rating in a report on Wednesday, July 11th. Evercore ISI downgraded shares of Park Hotels & Resorts from an outperform rating to an in-line rating in a report on Monday, August 20th. Barclays restated a buy rating on shares of Park Hotels & Resorts in a report on Friday, August 3rd. Jefferies Financial Group set a $38.00 price objective on shares of Park Hotels & Resorts and gave the company a buy rating in a report on Friday, August 3rd. Finally, Nomura lifted their price objective on shares of Park Hotels & Resorts from $30.00 to $32.00 and gave the company a buy rating in a report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $32.06.

Shares of PK stock opened at $29.65 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 2.17 and a beta of 0.97. Park Hotels & Resorts has a 52 week low of $23.91 and a 52 week high of $34.27.

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 consensus estimate of $0.64 by ($0.38). The company had revenue of $652.00 million for the quarter, compared to analyst estimates of $656.61 million. Park Hotels & Resorts had a return on equity of 8.24% and a net margin of 17.46%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. On average, analysts forecast that Park Hotels & Resorts will post 2.86 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of PK. PGGM Investments acquired a new position in Park Hotels & Resorts during the second quarter worth $86,176,000. BlackRock Inc. increased its holdings in Park Hotels & Resorts by 17.1% during the second quarter. BlackRock Inc. now owns 16,256,506 shares of the financial services provider’s stock worth $497,938,000 after buying an additional 2,368,733 shares during the last quarter. American Century Companies Inc. increased its holdings in Park Hotels & Resorts by 128.2% during the second quarter. American Century Companies Inc. now owns 2,234,322 shares of the financial services provider’s stock worth $68,437,000 after buying an additional 1,255,290 shares during the last quarter. FMR LLC increased its holdings in Park Hotels & Resorts by 79.8% during the second quarter. FMR LLC now owns 2,191,628 shares of the financial services provider’s stock worth $67,129,000 after buying an additional 972,541 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Park Hotels & Resorts by 35.9% during the second quarter. Northern Trust Corp now owns 3,276,256 shares of the financial services provider’s stock worth $100,352,000 after buying an additional 866,219 shares during the last quarter.

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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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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