United Parks & Resorts (NYSE:PRKS) Shares Gap Up on Analyst Upgrade

United Parks & Resorts Inc. (NYSE:PRKS)’s share price gapped up prior to trading on Friday after Mizuho upgraded the stock from an underperform rating to an outperform rating. The stock had previously closed at $37.06, but opened at $39.64. Mizuho now has a $47.00 price target on the stock, up from their previous price target of $27.00. United Parks & Resorts shares last traded at $39.53, with a volume of 268,754 shares traded.

Other research analysts have also recently issued research reports about the stock. Citigroup decreased their price target on shares of United Parks & Resorts from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Guggenheim decreased their price target on shares of United Parks & Resorts from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Zacks Research cut shares of United Parks & Resorts from a “hold” rating to a “strong sell” rating in a report on Friday, April 17th. Truist Financial upped their price target on shares of United Parks & Resorts from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of United Parks & Resorts from $63.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $49.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nomura Holdings Inc. grew its stake in shares of United Parks & Resorts by 742.3% during the third quarter. Nomura Holdings Inc. now owns 4,476,357 shares of the company’s stock valued at $231,428,000 after buying an additional 3,944,894 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of United Parks & Resorts by 9.4% during the third quarter. Vanguard Group Inc. now owns 2,994,579 shares of the company’s stock valued at $154,820,000 after buying an additional 256,367 shares during the last quarter. Goldentree Asset Management LP grew its stake in shares of United Parks & Resorts by 83.5% during the fourth quarter. Goldentree Asset Management LP now owns 2,438,437 shares of the company’s stock valued at $88,366,000 after buying an additional 1,109,930 shares during the last quarter. River Road Asset Management LLC grew its stake in shares of United Parks & Resorts by 3.8% during the fourth quarter. River Road Asset Management LLC now owns 2,056,349 shares of the company’s stock valued at $74,645,000 after buying an additional 74,392 shares during the last quarter. Finally, Voss Capital LP grew its stake in shares of United Parks & Resorts by 4.3% during the third quarter. Voss Capital LP now owns 2,050,000 shares of the company’s stock valued at $105,985,000 after buying an additional 85,000 shares during the last quarter.

United Parks & Resorts Price Performance

The stock has a 50 day moving average price of $33.96 and a 200-day moving average price of $36.36. The stock has a market capitalization of $1.89 billion, a P/E ratio of 12.98, a PEG ratio of 2.71 and a beta of 1.14.

United Parks & Resorts (NYSE:PRKS) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.18). United Parks & Resorts had a net margin of 10.13% and a negative return on equity of 41.63%. The company had revenue of $373.55 million for the quarter, compared to the consensus estimate of $375.87 million. During the same period last year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts predict that United Parks & Resorts Inc. will post 3.54 earnings per share for the current fiscal year.

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.