United Parks & Resorts (NYSE:PRKS) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial has raised the price target for United Parks & Resorts from $58.00 to $61.00, reflecting a potential upside of 15.79% and maintaining a "buy" rating.
• Several analysts have issued mixed ratings on the stock, with five holding a "buy," six a "hold," and one a "sell," leading to a consensus price target of $57.73.
• The company recently reported quarterly earnings of $1.45 per share, which fell short of expectations, with revenue down 1.5% year-over-year.

United Parks & Resorts (NYSE:PRKS - Free Report) had its price objective increased by Truist Financial from $58.00 to $61.00 in a research report released on Wednesday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on PRKS. Mizuho upped their target price on shares of United Parks & Resorts from $44.00 to $46.00 and gave the company an "underperform" rating in a research note on Wednesday, August 13th. Citigroup lifted their price target on shares of United Parks & Resorts from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Zacks Research upgraded United Parks & Resorts from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Barclays dropped their price objective on United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating for the company in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. dropped their price objective on United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $57.73.

United Parks & Resorts Trading Up 0.3%

Shares of United Parks & Resorts stock traded up $0.16 on Wednesday, reaching $54.51. 5,960,844 shares of the company were exchanged, compared to its average volume of 852,128. The stock has a fifty day moving average price of $50.28 and a 200-day moving average price of $47.47. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 14.58 and a beta of 1.34. United Parks & Resorts has a fifty-two week low of $37.68 and a fifty-two week high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.31). United Parks & Resorts had a negative return on equity of 47.59% and a net margin of 12.39%.The business had revenue of $490.21 million during the quarter, compared to analyst estimates of $505.20 million. During the same period last year, the business earned $1.46 EPS. The business's quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts anticipate that United Parks & Resorts will post 3.95 earnings per share for the current fiscal year.

United Parks & Resorts declared that its board has authorized a share buyback plan on Friday, September 5th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On United Parks & Resorts

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of United Parks & Resorts by 7.4% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company's stock worth $205,000 after buying an additional 310 shares during the period. Captrust Financial Advisors boosted its position in shares of United Parks & Resorts by 4.9% in the second quarter. Captrust Financial Advisors now owns 8,999 shares of the company's stock valued at $424,000 after acquiring an additional 420 shares during the period. Inspire Investing LLC increased its position in shares of United Parks & Resorts by 6.1% in the first quarter. Inspire Investing LLC now owns 7,540 shares of the company's stock worth $343,000 after purchasing an additional 434 shares during the period. QRG Capital Management Inc. increased its position in shares of 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, SkyView Investment Advisors LLC increased its position in shares of United Parks & Resorts by 2.9% in the second quarter. SkyView Investment Advisors LLC now owns 20,889 shares of the company's stock worth $988,000 after purchasing an additional 589 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.