Stifel Nicolaus Cuts United Parks & Resorts (NYSE:PRKS) Price Target to $63.00

Key Points

• Stifel Nicolaus has cut United Parks & Resorts' price target from $65.00 to $63.00, while maintaining a "buy" rating, which suggests a 27.88% upside from the current price.
• United Parks & Resorts reported lower-than-expected quarterly earnings with EPS of $1.45 compared to the consensus estimate of $1.76, and revenues fell short of predictions as well.
• Investment ratings for the stock vary, with a consensus rating of "Hold" and a target price of $57.38, reflecting a mix of ratings from analysts including six holds and six buy ratings.

United Parks & Resorts (NYSE:PRKS - Get Free Report) had its price target reduced by equities research analysts at Stifel Nicolaus from $65.00 to $63.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price target suggests a potential upside of 27.88% from the company's current price.

A number of other research firms have also commented on PRKS. Barclays cut their price objective on 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. Citigroup boosted their target price on shares of United Parks & Resorts from $48.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. Mizuho reduced their target price on shares of United Parks & Resorts from $45.00 to $44.00 and set an "underperform" rating on the stock in a research report on Monday. Guggenheim lowered their price target on shares of United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Finally, Truist Financial dropped their price objective on shares of United Parks & Resorts from $62.00 to $52.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $57.38.

United Parks & Resorts Trading Down 0.9%

United Parks & Resorts stock traded down $0.42 during mid-day trading on Friday, hitting $49.27. 420,894 shares of the company's stock were exchanged, compared to its average volume of 854,009. United Parks & Resorts has a 1-year low of $37.68 and a 1-year high of $60.83. The stock has a 50 day moving average of $46.73 and a two-hundred day moving average of $47.59. The stock has a market cap of $2.71 billion, a P/E ratio of 13.09 and a beta of 1.48.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.31). The business had revenue of $490.21 million during the quarter, compared to the consensus estimate of $505.20 million. United Parks & Resorts had a negative return on equity of 51.46% and a net margin of 12.98%. The business's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 earnings per share. As a group, research analysts predict that United Parks & Resorts will post 3.95 EPS for the current fiscal year.

Hedge Funds Weigh In On United Parks & Resorts

A number of hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in United Parks & Resorts in the first quarter worth $31,000. GAMMA Investing LLC lifted its holdings 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 valued at $114,000 after purchasing an additional 2,425 shares in the last quarter. Mariner LLC purchased a new position in shares of United Parks & Resorts during the fourth quarter valued at approximately $214,000. QRG Capital Management Inc. grew its holdings in shares of United Parks & Resorts by 11.3% in the first quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock worth $204,000 after acquiring an additional 456 shares during the period. Finally, Occudo Quantitative Strategies LP bought a new position in shares of United Parks & Resorts in the 4th quarter worth approximately $252,000.

United Parks & Resorts Company Profile

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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