Truist Financial Cuts United Parks & Resorts (NYSE:PRKS) Price Target to $62.00

United Parks & Resorts (NYSE:PRKS) had its target price lowered by Truist Financial from $64.00 to $62.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Mizuho boosted their target price on United Parks & Resorts from $43.00 to $45.00 and gave the company an “underperform” rating in a research note on Thursday, February 27th. Barclays started coverage on shares of United Parks & Resorts in a research report on Friday, March 14th. They issued an “equal weight” rating and a $50.00 price objective on the stock. Guggenheim raised their target price on shares of United Parks & Resorts from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Macquarie cut their price target on shares of United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.18.

United Parks & Resorts Price Performance

Shares of United Parks & Resorts stock opened at $48.41 on Tuesday. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 12.13 and a beta of 1.96. The stock’s 50-day moving average is $51.29 and its 200-day moving average is $53.29. United Parks & Resorts has a one year low of $44.72 and a one year high of $60.83.

Insider Transactions at United Parks & Resorts

In other news, insider Byron Surrett sold 7,008 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $48.90, for a total value of $342,691.20. Following the completion of the sale, the insider now directly owns 11,050 shares of the company’s stock, valued at $540,345. This trade represents a 38.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On United Parks & Resorts

A number of large investors have recently added to or reduced their stakes in PRKS. Victory Capital Management Inc. acquired a new position in shares of United Parks & Resorts in the third quarter valued at $772,000. Pathstone Holdings LLC acquired a new position in United Parks & Resorts in the 3rd quarter valued at about $1,498,000. Intech Investment Management LLC acquired a new position in United Parks & Resorts in the 3rd quarter valued at about $487,000. Charles Schwab Investment Management Inc. bought a new position in United Parks & Resorts in the 3rd quarter valued at about $20,898,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in United Parks & Resorts during the third quarter worth approximately $641,000.

About United Parks & Resorts

United Parks & Resorts, Inc is a holding company, which engages in the ownership and operation of theme parks. Its portfolio includes SeaWorld, Busch Gardens, Aquatica, Discovery Cove, Sesame Place, and Sea Rescue. The company was founded in 1959 and is headquartered in Orlando, FL.