United Parks & Resorts (NYSE:PRKS) Given New $44.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its price target for United Parks & Resorts from $39 to $44 while maintaining a neutral rating, implying virtually no upside or downside from the prior close.
• Analyst sentiment remains broadly cautious: the stock has an average “Hold” rating and a consensus target of $47.30, despite several firms recently increasing their targets.
• United Parks & Resorts missed quarterly expectations, reporting $1.34 in EPS versus $1.67 expected and revenue of $483.3 million versus $492.1 million; revenue declined 1.4% year over year.

United Parks & Resorts (NYSE:PRKS - Get Free Report) had its price target raised by investment analysts at JPMorgan Chase & Co. from $39.00 to $44.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential downside of 0.04% from the company's previous close.

Other analysts also recently issued research reports about the stock. 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 research note on Wednesday, August 5th. Citigroup upped their target price on United Parks & Resorts from $46.00 to $49.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Zacks Research upgraded United Parks & Resorts from a "strong sell" rating to a "hold" rating in a report on Friday, July 10th. The Goldman Sachs Group raised their price target on United Parks & Resorts from $37.00 to $41.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. Finally, Barclays boosted their price objective on United Parks & Resorts from $37.00 to $41.00 and gave the company an "equal weight" rating in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, United Parks & Resorts currently has an average rating of "Hold" and an average target price of $47.30.

United Parks & Resorts Price Performance

Shares of United Parks & Resorts stock traded down $0.00 on Tuesday, reaching $44.02. The company had a trading volume of 27,210 shares, compared to its average volume of 1,014,212. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 3.93 and a beta of 1.16. The firm's 50-day moving average price is $45.51 and its two-hundred day moving average price is $38.81. United Parks & Resorts has a 1 year low of $28.77 and a 1 year high of $56.95.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.33). United Parks & Resorts had a net margin of 8.11% and a negative return on equity of 27.85%. The company had revenue of $483.32 million for the quarter, compared to analysts' expectations of $492.10 million. During the same quarter in the previous year, the company posted $1.45 EPS. The business's quarterly revenue was down 1.4% on a year-over-year basis. As a group, analysts anticipate that United Parks & Resorts will post 3.07 EPS for the current year.

Insider Buying and Selling at United Parks & Resorts

In related news, insider Christopher L. Finazzo sold 8,000 shares of United Parks & Resorts stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $36.76, for a total transaction of $294,080.00. Following the completion of the transaction, the insider directly owned 130,285 shares in the company, valued at approximately $4,789,276.60. This trade represents a 5.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On United Parks & Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of United Parks & Resorts during the third quarter worth $28,000. Global Retirement Partners LLC purchased a new stake in shares of United Parks & Resorts in the 2nd quarter valued at about $31,000. Sound Income Strategies LLC purchased a new stake in shares of United Parks & Resorts in the fourth quarter valued at about $25,000. Rockefeller Capital Management L.P. grew its holdings in shares of United Parks & Resorts by 183.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company's stock worth $31,000 after buying an additional 551 shares during the last quarter. Finally, Arax Advisory Partners acquired a new position in United Parks & Resorts in the 4th quarter valued at about $31,000.

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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