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

Key Points

• Analyst consensus is “Hold”: Of 14 brokerages covering United Parks & Resorts, nine recommend holding, four recommend buying, and one recommends selling. The average 12-month price target is $47.30.
• Quarterly results fell short of expectations: The company reported EPS of $1.34 versus the $1.67 consensus estimate and revenue of $483.32 million versus $492.10 million expected. Revenue declined 1.4% year over year.
• Shares are trading near the analyst target: PRKS opened at $44.92, compared with its 52-week range of $28.77 to $56.95, while institutional investors including Engine Capital and Quantinno Capital increased their positions.

Shares of United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report) have earned an average rating of "Hold" from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $47.30.

A number of equities analysts have weighed in on the stock. Northcoast Research started coverage on shares of United Parks & Resorts in a research report on Wednesday, July 8th. They set a "neutral" rating for the company. Barclays boosted their price target on shares of United Parks & Resorts from $37.00 to $41.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 5th. UBS Group reaffirmed a "neutral" rating and issued a $45.00 price objective on shares of United Parks & Resorts in a report on Monday, June 15th. Guggenheim raised their price objective on shares of United Parks & Resorts from $51.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of United Parks & Resorts from $37.00 to $41.00 and gave the company a "neutral" rating in a research note on Monday, July 27th.

United Parks & Resorts Stock Performance

PRKS stock opened at $44.92 on Friday. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 4.23 and a beta of 1.16. United Parks & Resorts has a fifty-two week low of $28.77 and a fifty-two week high of $56.95. The stock has a fifty day moving average of $45.86 and a 200-day moving average of $38.99.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.67 by ($0.33). The firm had revenue of $483.32 million during the quarter, compared to the consensus estimate of $492.10 million. United Parks & Resorts had a net margin of 8.11% and a negative return on equity of 27.85%. The company's revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 earnings per share. Equities analysts predict that United Parks & Resorts will post 2.85 EPS for the current year.

Insider Activity at United Parks & Resorts

In other news, insider Christopher L. Finazzo sold 8,000 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $36.76, for a total value of $294,080.00. Following the completion of the transaction, the insider directly owned 130,285 shares of the company's stock, valued at $4,789,276.60. This trade represents a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by insiders.

Institutional Trading of United Parks & Resorts

A number of institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank grew its holdings in United Parks & Resorts by 89.4% during the 4th quarter. Comerica Bank now owns 77,662 shares of the company's stock valued at $2,819,000 after buying an additional 36,663 shares in the last quarter. Hawk Ridge Capital Management LP purchased a new stake in shares of United Parks & Resorts in the first quarter worth about $51,094,000. Hsbc Holdings PLC purchased a new stake in shares of United Parks & Resorts in the fourth quarter worth about $1,416,000. Engine Capital Management LP lifted its holdings in shares of United Parks & Resorts by 96.2% in the fourth 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 in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of United Parks & Resorts by 123.9% in the first quarter. Quantinno Capital Management LP now owns 146,562 shares of the company's stock valued at $4,787,000 after acquiring an additional 81,093 shares during the period.

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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