United Parks & Resorts Inc. (NYSE:PRKS) Given Average Rating of “Hold” by Brokerages

Shares of United Parks & Resorts Inc. (NYSE:PRKS) have been assigned an average recommendation of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $57.7273.

Several research firms have issued reports on PRKS. Guggenheim dropped their price target on United Parks & Resorts from $74.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Truist Financial lifted their price target on United Parks & Resorts from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Citigroup lifted their price target on United Parks & Resorts from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Morgan Stanley dropped their price target on United Parks & Resorts from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, August 4th. Finally, Stifel Nicolaus dropped their price target on United Parks & Resorts from $65.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, August 8th.

Hedge Funds Weigh In On United Parks & Resorts

Institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in United Parks & Resorts during the first quarter worth approximately $31,000. GAMMA Investing LLC increased its position in United Parks & Resorts by 3,233.3% during the first quarter. GAMMA Investing LLC now owns 2,500 shares of the company’s stock worth $114,000 after buying an additional 2,425 shares during the last quarter. Neo Ivy Capital Management acquired a new position in United Parks & Resorts during the second quarter worth approximately $123,000. Prudential Financial Inc. acquired a new position in United Parks & Resorts during the second quarter worth approximately $208,000. Finally, Tower Research Capital LLC TRC increased its position in United Parks & Resorts by 238.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,023 shares of the company’s stock worth $190,000 after buying an additional 2,835 shares during the last quarter.

United Parks & Resorts Trading Up 3.1%

PRKS stock opened at $51.80 on Wednesday. The business’s 50-day moving average price is $50.97 and its two-hundred day moving average price is $47.53. The firm has a market cap of $2.85 billion, a PE ratio of 13.85 and a beta of 1.34. United Parks & Resorts has a 1-year low of $37.68 and a 1-year high of $60.83.

United Parks & Resorts (NYSE:PRKS) last posted its earnings results on Thursday, August 7th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.31). United Parks & Resorts had a negative return on equity of 47.59% and a net margin of 12.39%.The business had revenue of $490.21 million for the quarter, compared to the consensus estimate of $505.20 million. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. On average, analysts forecast that United Parks & Resorts will post 3.95 earnings per share for the current year.

United Parks & Resorts announced that its board has initiated a stock repurchase program on Friday, September 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

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.