Deutsche Bank Aktiengesellschaft lowers Park Hotels & Resorts (NYSE:PK) price target to $21.00
Park Hotels and Resorts (NYSE: P.K. – Get a rating) had its price target reduced by analysts at Deutsche Bank Aktiengesellschaft from $26.00 to $21.00 in a report on Tuesday, Fly reports. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 67.60% from the company’s current price.
Several other research companies have also recently weighed in on PK. Sumitomo Mitsui Financial Group downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “neutral” rating and set a target price of $16.00 for the stock. in a research report on Monday, August 8. BMO Capital Markets cut Park Hotels & Resorts shares from an “outperform” rating to a “market performer” rating and lowered its price target for the stock from $21.00 to $18.00 in a report on Tuesday, August 16. Barclays cut its price target on Park Hotels & Resorts shares from $22.00 to $18.00 and set an “equal weight” rating for the company in a Thursday, July 7 report. UBS Group cut its price target on shares of Park Hotels & Resorts to $15.00 in a Tuesday, September 6 research note. Finally, Evercore ISI reiterated an “online” note and published a target price of $22.50 on Park Hotels & Resorts stock in a research note on Monday, July 11. One research analyst rated the stock with a sell rating, eight gave the company’s stock a hold rating and two gave the company’s stock a buy rating. Based on data from MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and an average target price of $19.05.
Park Hotels & Resorts Share performance
Shares of PACK opened at $12.53 on Tuesday. The company’s 50-day moving average is $13.22 and its 200-day moving average is $15.39. The stock has a market capitalization of $2.92 billion, a P/E ratio of -56.95 and a beta of 1.97. The company has a debt ratio of 1.09, a current ratio of 3.26 and a quick ratio of 3.26. Park Hotels & Resorts has a 12-month minimum of $10.98 and a 12-month maximum of $21.62.
Park Hotels and Resorts (NYSE: P.K. – Get a rating) last reported its quarterly earnings data on Wednesday, August 3. The financial services provider reported earnings per share (EPS) of $0.66 for the quarter, beating the consensus estimate of $0.47 by $0.19. The company posted revenue of $695.00 million for the quarter, compared to analysts’ expectations of $661.19 million. Park Hotels & Resorts recorded a negative net margin of 2.93% and a negative return on equity of 1.38%. Equity research analysts expect Park Hotels & Resorts to post EPS of 1.49 for the current fiscal year.
Institutional investors weigh in on Park Hotels & Resorts
Several large investors have recently changed their positions in the company. Vanguard Group Inc. increased its equity stake in Park Hotels & Resorts by 1.7% in Q1. Vanguard Group Inc. now owns 33,696,042 shares of the financial services provider worth $658,084,000 after buying an additional 567,015 shares in the last quarter. BlackRock Inc. increased its equity stake in Park Hotels & Resorts by 0.6% in Q1. BlackRock Inc. now owns 29,740,571 shares of the financial services provider worth $580,834,000 after purchasing an additional 182,269 shares in the last quarter. State Street Corp increased its holdings of Park Hotels & Resorts shares by 5.4% in the second quarter. State Street Corp now owns 13,036,934 shares of the financial services provider worth $177,037,000 after buying an additional 662,640 shares in the last quarter. Principal Financial Group Inc. increased its holdings of Park Hotels & Resorts shares by 0.8% in the second quarter. Principal Financial Group Inc. now owns 8,755,233 shares of the financial services provider worth $118,809,000 after buying an additional 69,485 shares in the last quarter. Finally, Rush Island Management LP increased its equity stake in Park Hotels & Resorts by 340.4% in the second quarter. Rush Island Management LP now owns 4,935,042 shares of the financial services provider worth $66,969,000 after buying 3,814,459 additional shares in the last quarter. Institutional investors hold 91.73% of the company’s shares.
About Park Hotels & Resorts
Park is the second-largest publicly traded accommodation REIT with a diversified portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 60 premium branded hotels and resorts with over 33,000 rooms primarily located in prime city centers and resorts.
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