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

Zacks Investment Research lowered shares of Park Hotels & Resorts (NYSE:PK) 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. “

Several other equities analysts also recently weighed in on PK. Nomura increased their target price on Park Hotels & Resorts from $30.00 to $32.00 and gave the stock a buy rating in a research report on Friday, November 2nd. Deutsche Bank set a $32.00 target price on Park Hotels & Resorts and gave the stock a hold rating in a research report on Saturday, November 3rd. Wells Fargo & Co reduced their target price on Park Hotels & Resorts from $32.00 to $29.00 and set a market perform rating on the stock in a research report on Friday, November 16th. TheStreet upgraded Park Hotels & Resorts from a c rating to a b- rating in a research report on Wednesday, December 12th. Finally, Goldman Sachs Group upgraded Park Hotels & Resorts from a sell rating to a neutral rating and set a $27.00 price target for the company in a research note on Thursday, January 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $31.28.

NYSE PK traded up $0.45 during trading hours on Friday, hitting $30.27. 1,619,396 shares of the company’s stock were exchanged, compared to its average volume of 1,513,631. Park Hotels & Resorts has a 12-month low of $23.91 and a 12-month high of $34.27. The company has a market capitalization of $6.09 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 2.28 and a beta of 1.29. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Park Hotels & Resorts by 3.8% during the third quarter. Vanguard Group Inc. now owns 30,594,200 shares of the financial services provider’s stock worth $1,004,101,000 after acquiring an additional 1,107,521 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Park Hotels & Resorts by 3.8% in the third quarter. Vanguard Group Inc now owns 30,594,200 shares of the financial services provider’s stock valued at $1,004,101,000 after buying an additional 1,107,521 shares in the last quarter. Cohen & Steers Inc. grew its stake in shares of Park Hotels & Resorts by 18.9% in the fourth quarter. Cohen & Steers Inc. now owns 23,422,923 shares of the financial services provider’s stock valued at $608,528,000 after buying an additional 3,721,425 shares in the last quarter. BlackRock Inc. grew its stake in shares of Park Hotels & Resorts by 10.9% in the fourth quarter. BlackRock Inc. now owns 18,853,963 shares of the financial services provider’s stock valued at $489,827,000 after buying an additional 1,855,859 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Park Hotels & Resorts by 12.3% in the third quarter. JPMorgan Chase & Co. now owns 9,828,336 shares of the financial services provider’s stock valued at $322,567,000 after buying an additional 1,078,962 shares in the last quarter.

About Park Hotels & Resorts

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading 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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