United Parks & Resorts Inc. (NYSE:PRKS) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Analysts maintain a “Hold” consensus on United Parks & Resorts, with nine hold, four buy, and one sell ratings. The average 12-month price target is $46.90, above the reported $32.46 share price.
• The company’s latest quarterly results fell short of expectations: adjusted earnings were $1.34 per share versus a $1.67 consensus, while revenue declined 1.4% year over year to $483.32 million.
• Institutional investors, including BlackRock, Hawk Ridge Capital, and Bank of America, recently established or expanded positions, while two insiders sold shares. Company insiders own 1.70% of the stock.

United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report) has received an average recommendation of "Hold" from the fourteen analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $46.90.

A number of research firms have recently commented on PRKS. Truist Financial lowered their target price on United Parks & Resorts from $53.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, September 10th. Citigroup upped their price target on shares of United Parks & Resorts from $46.00 to $49.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Guggenheim increased their price objective on shares of United Parks & Resorts from $51.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. 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. Finally, UBS Group restated a "neutral" rating and issued a $45.00 target price on shares of United Parks & Resorts in a report on Monday, June 15th.

United Parks & Resorts Stock Up 4.1%

PRKS opened at $32.46 on Friday. The firm has a 50-day simple moving average of $40.42 and a two-hundred day simple moving average of $39.78. United Parks & Resorts has a 52 week low of $28.77 and a 52 week high of $55.71. The company has a market capitalization of $1.47 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 3.05 and a beta of 1.25.

United Parks & Resorts (NYSE:PRKS - Get Free Report) 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). United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%.The firm had revenue of $483.32 million during the quarter, compared to the consensus estimate of $492.10 million. During the same period last year, the firm posted $1.45 earnings per share. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that United Parks & Resorts will post 2.85 earnings per share for the current year.

Insider Activity at United Parks & Resorts

In other United Parks & Resorts news, insider James Forrester, Jr. sold 1,150 shares of United Parks & Resorts stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $35.71, for a total transaction of $41,066.50. Following the completion of the transaction, the insider directly owned 26,733 shares of the company's stock, valued at $954,635.43. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Finazzo sold 6,622 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $44.20, for a total transaction of $292,692.40. Following the transaction, the insider owned 123,663 shares in the company, valued at $5,465,904.60. The trade was a 5.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PRKS. BlackRock Inc. purchased a new stake in United Parks & Resorts during the second quarter worth $171,560,000. Hawk Ridge Capital Management LP bought a new position in United Parks & Resorts in the first quarter worth about $51,094,000. Bank of America Corp DE bought a new position in United Parks & Resorts in the second quarter worth about $26,222,000. Engine Capital Management LP grew its position in shares of United Parks & Resorts by 96.2% in the 4th quarter. Engine Capital Management LP now owns 856,397 shares of the company's stock worth $31,087,000 after buying an additional 420,000 shares during the last quarter. Finally, Invenomic Capital Management LP grew its position in shares of United Parks & Resorts by 624.8% in the 4th quarter. Invenomic Capital Management LP now owns 309,008 shares of the company's stock worth $11,217,000 after buying an additional 266,375 shares during the last quarter.

About United Parks & Resorts

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.

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