Mizuho Lowers United Parks & Resorts (NYSE:PRKS) Price Target to $44.00

Key Points

• Mizuho has reduced its price target for United Parks & Resorts from $45.00 to $44.00, maintaining an "underperform" rating and indicating a potential downside of 6.96%.
• Other analysts, including Guggenheim and Truist Financial, have also adjusted their price targets, with average analyst ratings for the stock currently at "Hold" and an average target of $57.15.
• United Parks & Resorts recently reported a net loss of ($0.29) EPS, falling short of expectations, with revenue for the quarter down 3.5% year-over-year.

United Parks & Resorts (NYSE:PRKS - Get Free Report) had its price target decreased by stock analysts at Mizuho from $45.00 to $44.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "underperform" rating on the stock. Mizuho's price objective would indicate a potential downside of 6.96% from the company's previous close.

Other research analysts have also issued research reports about the company. Guggenheim reduced their price target on United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Truist Financial reduced their target price on shares of United Parks & Resorts from $62.00 to $52.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Citigroup increased their price target on shares of United Parks & Resorts from $48.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, July 10th. UBS Group started coverage on United Parks & Resorts in a report on Wednesday, April 9th. They issued a "neutral" rating and a $49.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their target price on United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. One equities research 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. According to MarketBeat, United Parks & Resorts currently has an average rating of "Hold" and an average price target of $57.15.

United Parks & Resorts Price Performance

PRKS traded up $0.66 on Monday, reaching $47.29. 421,138 shares of the company's stock were exchanged, compared to its average volume of 838,194. United Parks & Resorts has a twelve month low of $37.68 and a twelve month high of $60.83. The stock has a market cap of $2.60 billion, a PE ratio of 12.60 and a beta of 1.48. The stock's fifty day moving average price is $46.66 and its 200-day moving average price is $47.69.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its quarterly earnings results 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 12.98% and a negative return on equity of 51.46%. The company had revenue of $286.95 million during the quarter, compared to analysts' expectations of $294.28 million. During the same quarter last year, the company earned ($0.17) earnings per share. United Parks & Resorts's revenue for the quarter was down 3.5% on a year-over-year basis. As a group, research analysts predict that United Parks & Resorts will post 3.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United Parks & Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in United Parks & Resorts by 0.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 52,963 shares of the company's stock worth $2,976,000 after buying an additional 258 shares during the period. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of United Parks & Resorts by 7.4% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company's stock worth $205,000 after buying an additional 310 shares in the last quarter. LPL Financial LLC increased its stake in shares of United Parks & Resorts by 7.0% during the fourth quarter. LPL Financial LLC now owns 5,316 shares of the company's stock worth $299,000 after buying an additional 350 shares during the period. Inspire Investing LLC increased its stake in shares of United Parks & Resorts by 6.1% during the first quarter. Inspire Investing LLC now owns 7,540 shares of the company's stock worth $343,000 after buying an additional 434 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in United Parks & Resorts by 11.3% in the first quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock valued at $204,000 after acquiring an additional 456 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.

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