United Parks & Resorts Inc. (NYSE:PRKS) Receives $62.60 Average Price Target from Analysts

Shares of United Parks & Resorts Inc. (NYSE:PRKS) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $62.60.

A number of analysts recently commented on PRKS shares. The Goldman Sachs Group cut United Parks & Resorts from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $63.00 to $53.00 in a research report on Thursday, August 8th. B. Riley reissued a “buy” rating and issued a $71.00 price objective on shares of United Parks & Resorts in a research report on Monday, October 7th. Mizuho restated an “underperform” rating and set a $43.00 target price (down previously from $45.00) on shares of United Parks & Resorts in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Citigroup increased their price target on United Parks & Resorts from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th.

United Parks & Resorts Price Performance

PRKS stock opened at $58.64 on Thursday. The company’s 50 day simple moving average is $53.61 and its 200-day simple moving average is $52.34. United Parks & Resorts has a 12 month low of $44.72 and a 12 month high of $60.36. The firm has a market capitalization of $3.23 billion, a PE ratio of 14.70 and a beta of 2.00.

United Parks & Resorts (NYSE:PRKS) last announced its earnings results on Thursday, November 7th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. The company had revenue of $545.90 million for the quarter, compared to analyst estimates of $550.47 million. During the same quarter last year, the company posted $1.92 EPS. United Parks & Resorts’s quarterly revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Parks & Resorts will post 3.97 earnings per share for the current year.

Insider Activity at United Parks & Resorts

In other news, Director Yoshikazu Maruyama sold 12,984 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $50.07, for a total value of $650,108.88. Following the completion of the sale, the director now owns 41,766 shares of the company’s stock, valued at $2,091,223.62. This represents a 23.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Mikolaichik bought 34,000 shares of United Parks & Resorts stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $57.29 per share, for a total transaction of $1,947,860.00. Following the acquisition, the insider now directly owns 76,267 shares in the company, valued at approximately $4,369,336.43. This represents a 80.44 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On United Parks & Resorts

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hexagon Capital Partners LLC acquired a new stake in United Parks & Resorts during the 3rd quarter valued at $25,000. Exchange Traded Concepts LLC acquired a new stake in shares of United Parks & Resorts during the third quarter valued at about $28,000. Blue Trust Inc. acquired a new stake in shares of United Parks & Resorts during the third quarter valued at about $30,000. Public Employees Retirement System of Ohio purchased a new stake in shares of United Parks & Resorts during the third quarter worth about $32,000. Finally, KBC Group NV acquired a new position in shares of United Parks & Resorts in the third quarter worth about $54,000.

United Parks & Resorts Company Profile

United Parks & Resorts Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. It operates and licenses SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; Abu Dhabi, United Arab Emirates; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.