Morgan Stanley Lowers United Parks & Resorts (NYSE:PRKS) Price Target to $50.00

Key Points

• Morgan Stanley has lowered its target price for United Parks & Resorts' stock from $52.00 to $50.00, maintaining an "equal weight" rating, which indicates a potential upside of 6.46%.
• In addition to Morgan Stanley, other analysts like JPMorgan Chase and Citigroup have also reduced their price targets, with an average consensus rating of "Hold" and a target price of $57.23.
• United Parks & Resorts reported a quarterly loss of ($0.29) earnings per share, missing analyst estimates and showing a revenue decline of 3.5% from the previous year.

United Parks & Resorts (NYSE:PRKS - Get Free Report) had its price objective decreased by investment analysts at Morgan Stanley from $52.00 to $50.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective indicates a potential upside of 9.07% from the company's previous close.

Several other equities research analysts have also issued reports on PRKS. UBS Group started coverage on shares of United Parks & Resorts in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $49.00 price objective for the company. Barclays cut their target price on shares of United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating for the company in a research report on Friday, July 11th. Stifel Nicolaus cut 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. Guggenheim dropped their price objective on shares of United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating on the stock in a report on Tuesday, May 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 stock. Based on data from MarketBeat, United Parks & Resorts currently has a consensus rating of "Hold" and an average price target of $57.15.

United Parks & Resorts Stock Down 3.4%

United Parks & Resorts stock traded down $1.63 during mid-day trading on Monday, hitting $45.84. The company's stock had a trading volume of 437,761 shares, compared to its average volume of 838,752. The stock has a market capitalization of $2.52 billion, a P/E ratio of 12.22 and a beta of 1.48. United Parks & Resorts has a twelve month low of $37.68 and a twelve month high of $60.83. The stock's fifty day moving average price is $46.69 and its two-hundred day moving average price is $47.62.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.06). United Parks & Resorts had a negative return on equity of 51.46% and a net margin of 12.98%. The firm had revenue of $286.95 million for the quarter, compared to analysts' expectations of $294.28 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. The company's revenue for the quarter was down 3.5% on a year-over-year basis. Equities analysts expect that United Parks & Resorts will post 3.95 earnings per share for the current year.

Institutional Trading of United Parks & Resorts

Large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in United Parks & Resorts during the first quarter worth about $31,000. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 2,425 shares in the last quarter. Mariner LLC acquired a new position in shares of United Parks & Resorts during the fourth quarter worth approximately $214,000. QRG Capital Management Inc. lifted its position in shares of United Parks & Resorts by 11.3% during the first quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock worth $204,000 after purchasing an additional 456 shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of United Parks & Resorts during the fourth quarter worth approximately $252,000.

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.