Citigroup Increases United Parks & Resorts (NYSE:PRKS) Price Target to $50.00

United Parks & Resorts (NYSE:PRKS - Get Free Report) had its price target upped by investment analysts at Citigroup from $48.00 to $50.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price target indicates a potential upside of 5.26% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Truist Financial dropped their target price on United Parks & Resorts from $62.00 to $52.00 and set a "buy" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. dropped their target price on United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. Barclays started coverage on United Parks & Resorts in a report on Friday, March 14th. They issued an "equal weight" rating and a $50.00 target price on the stock. Stifel Nicolaus dropped 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. Finally, UBS Group started coverage on United Parks & Resorts in a report on Wednesday, April 9th. They issued a "neutral" rating and a $49.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, United Parks & Resorts currently has a consensus rating of "Hold" and a consensus target price of $57.92.

United Parks & Resorts Stock Performance

Shares of PRKS traded down $1.87 during midday trading on Thursday, hitting $47.50. 585,194 shares of the stock traded hands, compared to its average volume of 874,138. United Parks & Resorts has a 1-year low of $37.68 and a 1-year high of $60.83. The firm has a market capitalization of $2.61 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 2.41 and a beta of 1.44. The business's 50 day moving average price is $46.15 and its two-hundred day moving average price is $48.40.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.06). United Parks & Resorts had a net margin of 12.98% and a negative return on equity of 51.46%. The business had revenue of $286.95 million during the quarter, compared to analyst estimates of $294.28 million. During the same period in the previous year, the company posted ($0.17) earnings per share. United Parks & Resorts's revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts forecast that United Parks & Resorts will post 3.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new stake in United Parks & Resorts during the 1st quarter worth about $31,000. Steward Partners Investment Advisory LLC increased its stake in United Parks & Resorts by 267.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,839 shares of the company's stock valued at $103,000 after purchasing an additional 1,339 shares in the last quarter. GAMMA Investing LLC raised its holdings in United Parks & Resorts by 3,233.3% in the first quarter. GAMMA Investing LLC now owns 2,500 shares of the company's stock worth $114,000 after purchasing an additional 2,425 shares during the period. QRG Capital Management Inc. raised its holdings in 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 purchasing an additional 456 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of United Parks & Resorts by 7.4% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company's stock worth $205,000 after purchasing an additional 310 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.