Wall Street Analyst Downgrade Park Hotels & Resorts Inc. [PK]. What else is Wall St. saying


Park Hotels & Resorts Inc. [NYSE: PK] loss -0.41% or -0.08 points to close at $19.49 with a heavy trading volume of 4803693 shares. The company report on May 2, 2022 that Park Hotels & Resorts Inc. Reports First Quarter 2022 Results.

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Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) today announced results for the first quarter ended March 31, 2022 and provided an operational update.

It opened the trading session at $19.94, the shares rose to $20.22 and dropped to $19.085, the range by which the price of stock traded the whole day. The daily chart for PK points out that the company has recorded 0.88% gains over the past six months. However, it is still -23.59% lower than its most recent low trading price.

If we look at the average trading volume of 3.03M shares, PK reached to a volume of 4803693 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Park Hotels & Resorts Inc. [PK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PK shares is $21.97 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PK stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Park Hotels & Resorts Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 30, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $24 to $23. The new note on the price target was released on January 10, 2022, representing the official price target for Park Hotels & Resorts Inc. stock. Previously, the target price had yet another drop from $20 to $18, while Goldman kept a Sell rating on PK stock.

The Average True Range (ATR) for Park Hotels & Resorts Inc. is set at 0.82, with the Price to Sales ratio for PK stock in the period of the last 12 months amounting to 3.50. The Price to Book ratio for the last quarter was 1.03, with the Price to Cash per share for the same quarter was set at 2.81.

Trading performance analysis for PK stock

Park Hotels & Resorts Inc. [PK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.51. With this latest performance, PK shares dropped by -0.15% in over the last four-week period, additionally plugging by 0.88% over the last 6 months – not to mention a drop of -12.52% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PK stock in for the last two-week period is set at 52.17, with the RSI for the last a single of trading hit 50.73, and the three-weeks RSI is set at 52.29 for Park Hotels & Resorts Inc. [PK]. The present Moving Average for the last 50 days of trading for this stock 18.87, while it was recorded at 19.83 for the last single week of trading, and 18.83 for the last 200 days.

An analysis of insider ownership at Park Hotels & Resorts Inc. [PK]

There are presently around $4,287 million, or 93.90% of PK stock, in the hands of institutional investors. The top three institutional holders of PK stocks are: VANGUARD GROUP INC with ownership of 33,129,027, which is approximately 0.702% of the company’s market cap and around 1.00% of the total institutional ownership; BLACKROCK INC., holding 29,558,302 shares of the stock with an approximate value of $578.46 million in PK stocks shares; and PGGM INVESTMENTS, currently with $269.65 million in PK stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Park Hotels & Resorts Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 156 institutional holders increased their position in Park Hotels & Resorts Inc. [NYSE:PK] by around 33,560,025 shares. Additionally, 126 investors decreased positions by around 21,325,005 shares, while 52 investors held positions by with 164,196,841 shares. The mentioned changes placed institutional holdings at 219,081,871 shares, according to the latest SEC report filing. PK stock had 46 new institutional investments in for a total of 9,960,059 shares, while 37 institutional investors sold positions of 9,317,429 shares during the same period.