Park Hotels & Resorts (NYSE:PK) was upgraded by research analysts at BofA Securities from an “underperform” rating to a “buy” rating in a report released on Tuesday, Briefing.com reports. The brokerage presently has a $13.00 price target on the financial services provider’s stock, up from their prior price target of $7.50. BofA Securities’ price objective indicates a potential upside of 30.13% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Citigroup boosted their price objective on Park Hotels & Resorts from $6.50 to $9.25 and gave the company a “sell” rating in a report on Monday, September 21st. Capital One Financial downgraded shares of Park Hotels & Resorts from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 29th. Deutsche Bank reissued a “hold” rating and issued a $10.00 price objective on shares of Park Hotels & Resorts in a research report on Wednesday, August 5th. Wells Fargo & Company raised shares of Park Hotels & Resorts from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $7.50 to $11.00 in a research report on Thursday, September 10th. Finally, Barclays boosted their price target on Park Hotels & Resorts from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 22nd. Four equities research 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 company presently has an average rating of “Hold” and an average price target of $13.17.

Shares of NYSE:PK opened at $9.99 on Tuesday. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -2.89 and a beta of 1.93. Park Hotels & Resorts has a 12 month low of $3.99 and a 12 month high of $26.58. The company has a current ratio of 7.04, a quick ratio of 7.04 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average price of $9.87 and a 200 day moving average price of $9.24.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($1.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.69) by ($0.41). The company had revenue of $42.00 million for the quarter, compared to analysts’ expectations of $59.67 million. Park Hotels & Resorts had a negative net margin of 38.58% and a negative return on equity of 13.76%. As a group, equities analysts forecast that Park Hotels & Resorts will post -1.2 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in PK. Two Sigma Advisers LP raised its stake in shares of Park Hotels & Resorts by 0.6% in the second quarter. Two Sigma Advisers LP now owns 327,402 shares of the financial services provider’s stock worth $3,238,000 after purchasing an additional 1,900 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Park Hotels & Resorts by 17.1% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,768 shares of the financial services provider’s stock valued at $898,000 after acquiring an additional 13,245 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Park Hotels & Resorts by 31.9% in the 2nd quarter. Principal Financial Group Inc. now owns 10,254,496 shares of the financial services provider’s stock valued at $101,416,000 after acquiring an additional 2,482,176 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Park Hotels & Resorts by 57.1% in the second quarter. PNC Financial Services Group Inc. now owns 22,182 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 8,064 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in shares of Park Hotels & Resorts by 8.3% during the second quarter. Neuberger Berman Group LLC now owns 92,375 shares of the financial services provider’s stock worth $914,000 after purchasing an additional 7,061 shares during the last quarter. 79.27% of the stock is currently owned by hedge funds and other institutional investors.

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 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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

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