Zacks Research Downgrades United Parks & Resorts (NYSE:PRKS) to Strong Sell

United Parks & Resorts (NYSE:PRKS) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts have also issued research reports about the company. Weiss Ratings raised United Parks & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Barclays raised their target price on United Parks & Resorts from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Mizuho set a $51.00 price target on shares of United Parks & Resorts in a research report on Wednesday, August 5th. UBS Group reiterated a “neutral” rating and issued a $45.00 price objective on shares of United Parks & Resorts in a research note on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of United Parks & Resorts in a research report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, United Parks & Resorts has a consensus rating of “Hold” and a consensus target price of $47.30.

United Parks & Resorts Stock Performance

PRKS opened at $44.16 on Monday. The company’s 50-day simple moving average is $45.58 and its two-hundred day simple moving average is $38.85. The stock has a market capitalization of $2.00 billion, a P/E ratio of 17.38, a P/E/G ratio of 3.84 and a beta of 1.16. United Parks & Resorts has a 52-week low of $28.77 and a 52-week high of $56.95.

United Parks & Resorts (NYSE:PRKS) last issued its earnings results on Tuesday, August 4th. The company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.33). The company had revenue of $483.32 million during the quarter, compared to analysts’ expectations of $492.10 million. United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%.The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.45 EPS. Research analysts forecast that United Parks & Resorts will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling at United Parks & Resorts

In related news, insider Christopher L. Finazzo sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $36.76, for a total transaction of $294,080.00. Following the completion of the transaction, the insider directly owned 130,285 shares in the company, valued at approximately $4,789,276.60. The trade was a 5.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On United Parks & Resorts

Large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in United Parks & Resorts during the 3rd quarter worth about $28,000. Global Retirement Partners LLC bought a new position in shares of United Parks & Resorts during the second quarter valued at approximately $31,000. Rockefeller Capital Management L.P. increased its holdings in United Parks & Resorts by 183.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company’s stock valued at $31,000 after buying an additional 551 shares during the period. Arax Advisory Partners purchased a new position in United Parks & Resorts during the fourth quarter valued at approximately $31,000. Finally, Empowered Funds LLC bought a new position in United Parks & Resorts in the fourth quarter worth approximately $31,000.

United Parks & Resorts Company Profile

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.