Wells Fargo & Company Forecasts Strong Price Appreciation for Park Hotels & Resorts (NYSE:PK) Stock

Park Hotels & Resorts (NYSE:PK) had its target price upped by Wells Fargo & Company from $10.00 to $12.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 6.22% from the stock’s current price.

Several other brokerages have also recently issued reports on PK. Wall Street Zen raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $12.00 price objective on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. Barclays set a $12.00 target price on shares of Park Hotels & Resorts in a report on Monday. LADENBURG THALM/SH SH initiated coverage on shares of Park Hotels & Resorts in a research report on Thursday, March 26th. They issued a “buy” rating and a $16.00 price target for the company. Finally, Morgan Stanley boosted their price target on shares of Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Reduce” and an average price target of $12.15.

Park Hotels & Resorts Trading Up 5.5%

PK stock traded up $0.67 during mid-day trading on Monday, hitting $12.80. 666,851 shares of the company were exchanged, compared to its average volume of 4,104,091. Park Hotels & Resorts has a 12-month low of $9.84 and a 12-month high of $12.43. The firm has a market capitalization of $2.58 billion, a P/E ratio of -11.70, a PEG ratio of 1.66 and a beta of 1.37. The business has a fifty day simple moving average of $11.07 and a 200-day simple moving average of $10.98. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The company had revenue of $622.00 million during the quarter, compared to analysts’ expectations of $609.78 million. During the same period last year, the firm posted $0.46 earnings per share. Park Hotels & Resorts’s revenue was down 1.3% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, equities research analysts predict that Park Hotels & Resorts will post 1.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Park Hotels & Resorts

Several institutional investors have recently modified their holdings of PK. Donald Smith & CO. Inc. increased its holdings in Park Hotels & Resorts by 14.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock valued at $152,903,000 after buying an additional 1,813,338 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Park Hotels & Resorts by 1.6% during the 3rd quarter. Bank of America Corp DE now owns 13,074,474 shares of the financial services provider’s stock worth $144,865,000 after acquiring an additional 203,922 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Park Hotels & Resorts by 76.7% during the 2nd quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after acquiring an additional 3,361,382 shares in the last quarter. Sculptor Capital LP increased its holdings in shares of Park Hotels & Resorts by 154.1% in the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock valued at $66,844,000 after acquiring an additional 3,962,304 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of Park Hotels & Resorts by 29.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 4,447,474 shares of the financial services provider’s stock worth $49,278,000 after acquiring an additional 1,023,400 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Company Profile

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.