United Parks & Resorts (NYSE:PRKS) Trading Up 9.7% - Should You Buy?

United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report)'s share price traded up 9.7% during mid-day trading on Thursday . The stock traded as high as $49.95 and last traded at $54.20. 323,975 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 877,397 shares. The stock had previously closed at $49.40.

Analysts Set New Price Targets

Several research firms recently commented on PRKS. Stifel Nicolaus cut their target price on shares of United Parks & Resorts from $74.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Barclays initiated coverage on shares of United Parks & Resorts in a research note on Friday, March 14th. They issued an "equal weight" rating and a $50.00 target price for the company. Morgan Stanley lifted their target price on United Parks & Resorts from $50.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. Citigroup cut their price target on United Parks & Resorts from $49.00 to $48.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Finally, Guggenheim lifted their price objective 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 research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $57.85.

United Parks & Resorts Trading Up 9.7%

The company has a fifty day moving average price of $45.72 and a two-hundred day moving average price of $48.64. The firm has a market cap of $2.98 billion, a P/E ratio of 14.45, a PEG ratio of 2.49 and a beta of 1.44.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last announced 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 company had revenue of $286.95 million during the quarter, compared to the consensus estimate of $294.28 million. During the same period in the previous year, the firm posted ($0.17) EPS. The business's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, sell-side analysts expect that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

Institutional Investors Weigh In On United Parks & Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its position in shares of United Parks & Resorts by 0.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 52,963 shares of the company's stock valued at $2,976,000 after acquiring an additional 258 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its stake in United Parks & Resorts by 7.4% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company's stock valued at $205,000 after purchasing an additional 310 shares in the last quarter. LPL Financial LLC increased its position in shares of United Parks & Resorts by 7.0% during the 4th quarter. LPL Financial LLC now owns 5,316 shares of the company's stock worth $299,000 after purchasing an additional 350 shares during the last quarter. Inspire Investing LLC raised its stake in shares of United Parks & Resorts by 6.1% during the 1st quarter. Inspire Investing LLC now owns 7,540 shares of the company's stock worth $343,000 after purchasing an additional 434 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of United Parks & Resorts by 11.3% in the 1st quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock valued at $204,000 after buying an additional 456 shares during the last quarter.

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.