United Parks & Resorts (NYSE:PRKS) Price Target Raised to $52.00 at Morgan Stanley

United Parks & Resorts (NYSE:PRKS) had its target price hoisted by Morgan Stanley from $50.00 to $52.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 6.75% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Barclays initiated coverage on United Parks & Resorts in a research note on Friday, March 14th. They issued an “equal weight” rating and a $50.00 price target for the company. Stifel Nicolaus decreased their target price on shares of United Parks & Resorts from $74.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, April 11th. UBS Group assumed coverage on shares of United Parks & Resorts in a research note on Wednesday, April 9th. They set a “neutral” rating and a $49.00 price target on the stock. Truist Financial reduced their price objective on shares of United Parks & Resorts from $62.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Guggenheim upped their price objective on shares of United Parks & Resorts from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, United Parks & Resorts currently has a consensus rating of “Hold” and an average target price of $58.15.

United Parks & Resorts Stock Down 1.1%

Shares of NYSE:PRKS opened at $48.71 on Tuesday. The firm has a fifty day moving average of $45.39 and a two-hundred day moving average of $51.52. United Parks & Resorts has a 12-month low of $37.68 and a 12-month high of $60.83. The firm has a market capitalization of $2.68 billion, a P/E ratio of 12.21 and a beta of 1.51.

United Parks & Resorts (NYSE:PRKS) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. The firm had revenue of $286.95 million for the quarter, compared to analyst estimates of $294.28 million. During the same period in the previous year, the business posted ($0.17) EPS. United Parks & Resorts’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities research analysts expect that United Parks & Resorts will post 3.95 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Byron Surrett sold 7,008 shares of the 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 approximately $540,345. This represents a 38.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On United Parks & Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in United Parks & Resorts in the 1st quarter worth $31,000. R Squared Ltd acquired a new stake in United Parks & Resorts during the fourth quarter worth about $72,000. KBC Group NV increased its stake in United Parks & Resorts by 60.2% during the fourth quarter. KBC Group NV now owns 1,698 shares of the company’s stock valued at $95,000 after acquiring an additional 638 shares during the period. Steward Partners Investment Advisory LLC increased its stake in United Parks & Resorts by 267.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,839 shares of the company’s stock valued at $103,000 after acquiring an additional 1,339 shares during the period. Finally, GAMMA Investing LLC raised its holdings in United Parks & Resorts by 3,233.3% in the 1st quarter. GAMMA Investing LLC now owns 2,500 shares of the company’s stock valued at $114,000 after acquiring an additional 2,425 shares in the last quarter.

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.