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

Park Hotels & Resorts (NYSE:PK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “

A number of other research firms also recently commented on PK. SunTrust Banks reiterated a “buy” rating on shares of Park Hotels & Resorts in a report on Friday, August 3rd. Nomura increased their price objective on Park Hotels & Resorts from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, November 2nd. Jefferies Financial Group set a $38.00 price objective on Park Hotels & Resorts and gave the company a “buy” rating in a report on Friday, August 3rd. Deutsche Bank set a $32.00 price objective on Park Hotels & Resorts and gave the company a “hold” rating in a report on Saturday, November 3rd. Finally, Barclays reiterated a “buy” rating on shares of Park Hotels & Resorts in a report on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $32.06.

PK opened at $30.85 on Friday. Park Hotels & Resorts has a one year low of $23.91 and a one year high of $34.27. The stock has a market capitalization of $6.21 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 2.29 and a beta of 0.97. The company has a current ratio of 1.55, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.38). Park Hotels & Resorts had a net margin of 17.46% and a return on equity of 8.27%. The business had revenue of $652.00 million during the quarter, compared to analysts’ expectations of $656.61 million. During the same quarter in the previous year, the company posted $0.66 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. On average, research analysts expect that Park Hotels & Resorts will post 2.84 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board grew its stake in Park Hotels & Resorts by 101.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 250,700 shares of the financial services provider’s stock worth $8,228,000 after buying an additional 126,100 shares during the last quarter. Pzena Investment Management LLC purchased a new position in Park Hotels & Resorts during the 3rd quarter worth approximately $284,000. Globeflex Capital L P purchased a new position in Park Hotels & Resorts during the 3rd quarter worth approximately $252,000. BlackRock Inc. grew its stake in Park Hotels & Resorts by 4.6% during the 3rd quarter. BlackRock Inc. now owns 16,998,104 shares of the financial services provider’s stock worth $557,876,000 after buying an additional 741,598 shares during the last quarter. Finally, Martingale Asset Management L P grew its stake in Park Hotels & Resorts by 105.1% during the 3rd quarter. Martingale Asset Management L P now owns 1,045,903 shares of the financial services provider’s stock worth $34,328,000 after buying an additional 535,979 shares during the last quarter.

About Park Hotels & Resorts

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.

Read More: How are Outstanding Shares Different from Authorized Shares?

Get a free copy of the Zacks research report on Park Hotels & Resorts (PK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Park Hotels & Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply