United Parks & Resorts Inc. (NYSE:PRKS) Stock Has Consensus Target Price of $45.40

Key Points

• Analysts maintain a “Hold” consensus on United Parks & Resorts, with 10 hold ratings and four buys. The average 12-month price target is $45.40, above the reported share price of $31.07.
• The company’s latest quarterly results fell short of expectations: adjusted EPS was $1.34 versus the $1.67 consensus, while revenue declined 1.4% year over year to $483.32 million.
• PRKS shares have traded between $28.77 and $50.17 over the past year, with a market capitalization of approximately $1.41 billion. Recent analyst actions were mixed, including target cuts from Citigroup and Truist and increases from JPMorgan and Guggenheim.

Shares of United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report) have received a consensus rating of "Hold" from the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $45.40.

Several equities research analysts have weighed in on PRKS shares. Citigroup lowered their price objective on shares of United Parks & Resorts from $49.00 to $34.00 and set a "neutral" rating for the company in a research report on Thursday, October 8th. JPMorgan Chase & Co. increased their price target on United Parks & Resorts from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Zacks Research upgraded United Parks & Resorts from a "strong sell" rating to a "hold" rating in a research report on Monday, October 12th. Guggenheim lifted their price objective on United Parks & Resorts from $51.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Truist Financial lowered their target price on shares of United Parks & Resorts from $53.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, September 10th.

United Parks & Resorts Price Performance

PRKS opened at $31.07 on Thursday. The firm's fifty day moving average price is $35.87 and its two-hundred day moving average price is $38.19. United Parks & Resorts has a fifty-two week low of $28.77 and a fifty-two week high of $50.17. The company has a market capitalization of $1.41 billion, a P/E ratio of 12.23, a P/E/G ratio of 2.85 and a beta of 1.25.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its quarterly earnings data 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 company had revenue of $483.32 million for the quarter, compared to analyst estimates of $492.10 million. During the same quarter in the prior year, the company earned $1.45 earnings per share. The business's revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts expect that United Parks & Resorts will post 2.85 EPS for the current fiscal year.

Insider Activity

In related news, insider James Forrester, Jr. sold 1,150 shares of the stock in a transaction dated Tuesday, September 15th. The stock was 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 in the company, valued at approximately $954,635.43. This trade represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Finazzo sold 6,622 shares of the stock in a transaction on Thursday, August 6th. The stock was 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 of the company's stock, 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. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of United Parks & Resorts

Hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its stake in United Parks & Resorts by 183.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company's stock valued at $31,000 after purchasing an additional 551 shares during the period. Group One Trading LLC bought a new position in shares of United Parks & Resorts during the second quarter worth approximately $31,000. Global Retirement Partners LLC acquired a new stake in United Parks & Resorts during the second quarter worth about $31,000. Fortitude Family Office LLC raised its holdings in shares of United Parks & Resorts by 30,580.0% during the 3rd quarter. Fortitude Family Office LLC now owns 1,534 shares of the company's stock worth $50,000 after buying an additional 1,529 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of United Parks & Resorts during the 2nd quarter valued at approximately $53,000.

About United Parks & Resorts

United Parks & Resorts Inc NYSE: PRKS is a theme park and entertainment company that owns and operates a portfolio of destination amusement and water parks in the United States. Its properties combine rides, live entertainment, animal exhibits, educational experiences, seasonal events and hospitality-related offerings.

The company's portfolio includes SeaWorld parks in Orlando, San Antonio and San Diego; Busch Gardens parks in Tampa and Williamsburg, Virginia; Sesame Place parks in Pennsylvania and California; and water parks and attractions such as Aquatica, Adventure Island, Water Country USA and Discovery Cove.

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