Truist Financial Cuts Park Hotels & Resorts (NYSE:PK) Price Target to $11.00

Park Hotels & Resorts (NYSE:PK) had its price objective lowered by Truist Financial from $12.00 to $11.00 in a report published on Tuesday morning, MarketBeat.com reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company lowered their target price on Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, December 1st. Morgan Stanley set a $10.00 price objective on Park Hotels & Resorts in a research report on Friday, January 16th. Barclays assumed coverage on Park Hotels & Resorts in a research note on Tuesday, January 6th. They set an “overweight” rating and a $13.00 price objective for the company. Evercore ISI decreased their target price on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a research note on Thursday, November 20th. Finally, Weiss Ratings raised shares of Park Hotels & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $11.27.

Park Hotels & Resorts Price Performance

Shares of Park Hotels & Resorts stock opened at $11.16 on Tuesday. Park Hotels & Resorts has a 52-week low of $8.27 and a 52-week high of $13.30. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -159.36 and a beta of 1.45. The company has a fifty day moving average of $10.94 and a 200-day moving average of $11.02. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.04 and a current ratio of 1.04.

Insider Buying and Selling

In other Park Hotels & Resorts news, Director Christie B. Kelly bought 2,949 shares of the stock in a transaction dated Wednesday, January 14th. The stock was purchased at an average cost of $11.19 per share, for a total transaction of $32,999.31. Following the completion of the acquisition, the director owned 150,501 shares of the company’s stock, valued at approximately $1,684,106.19. This trade represents a 2.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Capital Fund Management S.A. grew its stake in Park Hotels & Resorts by 39.1% in the 2nd quarter. Capital Fund Management S.A. now owns 370,803 shares of the financial services provider’s stock worth $3,793,000 after acquiring an additional 104,307 shares during the period. SAM Advisors LLC acquired a new stake in shares of Park Hotels & Resorts during the third quarter worth $2,212,000. Squarepoint Ops LLC grew its position in shares of Park Hotels & Resorts by 370.3% in the second quarter. Squarepoint Ops LLC now owns 432,535 shares of the financial services provider’s stock valued at $4,425,000 after purchasing an additional 340,568 shares during the period. Ethic Inc. increased its stake in Park Hotels & Resorts by 179.5% in the second quarter. Ethic Inc. now owns 38,789 shares of the financial services provider’s stock valued at $408,000 after purchasing an additional 24,911 shares during the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in Park Hotels & Resorts in the second quarter valued at $113,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.