United Parks & Resorts (NYSE:PRKS) Shares Gap Up - Time to Buy?

Key Points

• PRKS shares gapped up from a prior close of $45.51 to open at $50.00, but later traded near $45.46.
• Analyst sentiment remains cautious: four analysts rate the stock a Buy and ten rate it Hold, producing a consensus Hold rating and a $47 average price target.
• United Parks & Resorts missed quarterly earnings expectations, reporting $1.34 in EPS versus $1.67 forecast, while revenue fell 1.4% year over year and the company posted a negative 35.46% return on equity.

United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $45.51, but opened at $50.00. United Parks & Resorts shares last traded at $45.46, with a volume of 91,369 shares traded.

Analyst Ratings Changes

A number of analysts recently commented on PRKS shares. Guggenheim dropped their price target on shares of United Parks & Resorts from $54.00 to $51.00 and set a "buy" rating on the stock in a research note on Monday, July 27th. Zacks Research raised shares of United Parks & Resorts from a "strong sell" rating to a "hold" rating in a report on Friday, July 10th. Stifel Nicolaus restated a "hold" rating and set a $40.00 target price (down from $43.00) on shares of United Parks & Resorts in a research report on Tuesday, May 12th. UBS Group reaffirmed a "neutral" rating and issued a $45.00 price target on shares of United Parks & Resorts in a report on Monday, June 15th. Finally, The Goldman Sachs Group lifted their price target on United Parks & Resorts from $37.00 to $41.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $47.00.

United Parks & Resorts Stock Performance

The company's 50 day simple moving average is $44.95 and its 200-day simple moving average is $38.56. The firm has a market capitalization of $2.20 billion, a PE ratio of 17.57, a PEG ratio of 3.57 and a beta of 1.14.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.67 by ($0.33). United Parks & Resorts had a net margin of 9.09% and a negative return on equity of 35.46%. The business's revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.45 EPS. On average, equities research analysts forecast that United Parks & Resorts Inc. will post 3.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other United Parks & Resorts news, insider Christopher L. Finazzo sold 8,000 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $36.76, for a total value of $294,080.00. Following the sale, the insider owned 130,285 shares of the company's stock, valued at $4,789,276.60. This trade represents a 5.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On United Parks & Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of PRKS. Quarry LP purchased a new position in United Parks & Resorts in the 3rd quarter worth approximately $28,000. Sound Income Strategies LLC purchased a new stake in shares of United Parks & Resorts during the 4th quarter valued at $25,000. Rockefeller Capital Management L.P. lifted its holdings in shares of United Parks & Resorts by 183.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company's stock worth $31,000 after acquiring an additional 551 shares during the last quarter. Arax Advisory Partners purchased a new position in United Parks & Resorts in the fourth quarter worth $31,000. Finally, Empowered Funds LLC purchased a new position in United Parks & Resorts in the fourth quarter worth $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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