Park Hotels & Resorts (NYSE:PK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a 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. “
Other analysts also recently issued reports about the company. Deutsche Bank upped their price objective on Park Hotels & Resorts from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Evercore ISI upgraded Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. Nomura dropped their price objective on Park Hotels & Resorts from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 1st. Boenning Scattergood downgraded Park Hotels & Resorts from an “outperform” rating to a “neutral” rating in a research report on Wednesday, February 21st. Finally, Bank of America downgraded Park Hotels & Resorts from a “neutral” rating to an “underperform” rating in a research report on Monday, March 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $36.23.
Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Thursday, March 1st. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.37). Park Hotels & Resorts had a return on equity of 43.23% and a net margin of 94.05%. The business had revenue of $686.00 million for the quarter, compared to the consensus estimate of $673.89 million. During the same quarter in the prior year, the company earned $0.72 earnings per share. Park Hotels & Resorts’s quarterly revenue was up 2.4% compared to the same quarter last year. sell-side analysts anticipate that Park Hotels & Resorts will post 2.78 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of PK. American International Group Inc. raised its position in Park Hotels & Resorts by 170.0% in the fourth quarter. American International Group Inc. now owns 4,773 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 3,005 shares during the last quarter. Omnia Family Wealth LLC raised its position in Park Hotels & Resorts by 172.1% in the fourth quarter. Omnia Family Wealth LLC now owns 5,025 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 3,178 shares during the last quarter. Driehaus Capital Management LLC bought a new position in Park Hotels & Resorts in the fourth quarter valued at about $202,000. Hollencrest Capital Management bought a new position in Park Hotels & Resorts in the fourth quarter valued at about $207,000. Finally, Parallel Advisors LLC raised its position in Park Hotels & Resorts by 51.9% in the third quarter. Parallel Advisors LLC now owns 7,273 shares of the financial services provider’s stock valued at $209,000 after purchasing an additional 2,484 shares during the last quarter.
Park Hotels & Resorts Company Profile
Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.
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