United Parks & Resorts Inc. (NYSE:PRKS) Stock Has Average Price Target of $46.90

Shares of United Parks & Resorts Inc. (NYSE:PRKS) have earned an average rating of “Hold” from the fourteen research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $46.90.

A number of brokerages have recently commented on PRKS. Citizens Jmp began coverage on United Parks & Resorts in a research note on Monday, June 29th. They issued a “market perform” rating for the company. The Goldman Sachs Group increased their price target on shares of United Parks & Resorts from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings raised shares of United Parks & Resorts from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Northcoast Research initiated coverage on shares of United Parks & Resorts in a report on Wednesday, July 8th. They set a “neutral” rating for the company. Finally, Zacks Research downgraded shares of United Parks & Resorts from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th.

Insiders Place Their Bets

In related news, insider James W. Forrester, Jr. sold 1,150 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $35.71, for a total value of $41,066.50. Following the completion of the sale, the insider owned 26,733 shares in the company, valued at $954,635.43. This represents a 4.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher L. Finazzo sold 6,622 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $44.20, for a total value of $292,692.40. Following the sale, the insider directly owned 123,663 shares in the company, valued at $5,465,904.60. The trade was a 5.08% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ABS Investment Management LLC acquired a new position in shares of United Parks & Resorts in the 2nd quarter valued at approximately $2,387,000. Legal & General Group Plc acquired a new stake in United Parks & Resorts during the 2nd quarter worth approximately $2,436,000. Hawk Ridge Capital Management LP acquired a new stake in United Parks & Resorts during the 1st quarter worth approximately $51,094,000. BlackRock Inc. bought a new position in United Parks & Resorts in the second quarter valued at approximately $171,560,000. Finally, Corient Private Wealth LP bought a new position in United Parks & Resorts in the second quarter valued at approximately $4,685,000.

United Parks & Resorts Stock Down 1.4%

Shares of United Parks & Resorts stock opened at $33.90 on Friday. The business has a fifty day simple moving average of $39.95 and a 200 day simple moving average of $39.85. The stock has a market cap of $1.54 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 3.23 and a beta of 1.25. United Parks & Resorts has a 12 month low of $28.77 and a 12 month high of $55.19.

United Parks & Resorts (NYSE:PRKS) last released its earnings results on Tuesday, August 4th. The company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.33). United Parks & Resorts had a net margin of 8.11% and a negative return on equity of 27.85%. The company had revenue of $483.32 million during the quarter, compared to analyst estimates of $492.10 million. During the same period in the previous year, the company posted $1.45 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Analysts expect that United Parks & Resorts will post 2.85 EPS for the current fiscal year.

United Parks & Resorts Company Profile

United Parks & Resorts Inc (NYSE: PRKS) is a theme park and entertainment company that owns and operates a portfolio of parks and attractions in the United States. Its properties combine amusement rides, live entertainment, animal exhibits, educational experiences, and seasonal events for families and other guests.

The company’s principal brands include SeaWorld, Busch Gardens, Sesame Place, Discovery Cove, Aquatica, Adventure Island, and Water Country USA. Its parks offer roller coasters and other rides, water attractions, animal encounters, zoological presentations, dining, retail, and hospitality-related experiences.