United Parks & Resorts (NYSE:PRKS) Price Target Lowered to $48.00 at Citigroup

United Parks & Resorts (NYSE:PRKS - Get Free Report) had its target price decreased by equities researchers at Citigroup from $49.00 to $48.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's target price would indicate a potential upside of 15.50% from the company's previous close.

Several other brokerages have also weighed in on PRKS. UBS Group assumed coverage on shares of United Parks & Resorts in a research report on Wednesday, April 9th. They set a "neutral" rating and a $49.00 target price on the stock. Stifel Nicolaus decreased their price objective on United Parks & Resorts from $74.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Truist Financial dropped their target price on United Parks & Resorts from $62.00 to $52.00 and set a "buy" rating for the company in a report on Monday, April 14th. Barclays started coverage on United Parks & Resorts in a research note on Friday, March 14th. They issued an "equal weight" rating and a $50.00 price target on the stock. Finally, Guggenheim boosted their target price on United Parks & Resorts from $72.00 to $74.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $57.85.

United Parks & Resorts Stock Performance

Shares of PRKS traded up $0.50 during trading hours on Monday, reaching $41.56. 43,006 shares of the company traded hands, compared to its average volume of 881,695. The stock's fifty day moving average is $44.76 and its 200 day moving average is $49.77. United Parks & Resorts has a 1-year low of $37.68 and a 1-year high of $60.83. The stock has a market cap of $2.28 billion, a P/E ratio of 10.38 and a beta of 1.44.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.06). United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. The firm had revenue of $286.95 million during the quarter, compared to analyst estimates of $294.28 million. During the same period last year, the company earned ($0.17) EPS. The company's revenue was down 3.5% on a year-over-year basis. On average, equities research analysts predict that United Parks & Resorts will post 3.95 EPS for the current year.

Hedge Funds Weigh In On United Parks & Resorts

Institutional investors have recently modified their holdings of the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of United Parks & Resorts in the 4th quarter valued at $321,000. Bank of New York Mellon Corp increased its holdings in shares of United Parks & Resorts by 3.7% in the fourth quarter. Bank of New York Mellon Corp now owns 139,536 shares of the company's stock worth $7,841,000 after acquiring an additional 4,945 shares in the last quarter. K.J. Harrison & Partners Inc raised its position in shares of United Parks & Resorts by 33.3% during the fourth quarter. K.J. Harrison & Partners Inc now owns 40,000 shares of the company's stock worth $2,302,000 after purchasing an additional 10,000 shares during the period. Schechter Investment Advisors LLC bought a new position in shares of United Parks & Resorts during the 4th quarter valued at about $209,000. Finally, Steward Partners Investment Advisory LLC increased its stake in United Parks & Resorts by 267.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,839 shares of the company's stock worth $103,000 after purchasing an additional 1,339 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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