United Parks & Resorts (NYSE:PRKS) Raised to "Hold" at Zacks Research

Key Points

• United Parks & Resorts has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment.
• The company reported disappointing earnings with an EPS of $1.45 for the quarter, missing the consensus estimate of $1.76 and showing a decrease in revenue compared to the previous year.
• Five analysts have given the stock a Buy rating, while the consensus rating remains at "Hold" with a price target of $56.91, indicating mixed expectations for future performance.

United Parks & Resorts (NYSE:PRKS - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts also recently weighed in on the company. Stifel Nicolaus lowered their price objective on shares of United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Guggenheim lowered their target price on United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating for the company in a report on Thursday, July 17th. JPMorgan Chase & Co. reduced their price objective on shares of 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. Citigroup boosted their price target on United Parks & Resorts from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Finally, Morgan Stanley lowered their price target on United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $56.91.

United Parks & Resorts Trading Up 1.8%

PRKS stock traded up $0.92 during trading on Tuesday, hitting $52.48. The company had a trading volume of 535,509 shares, compared to its average volume of 931,070. The company has a fifty day moving average price of $49.51 and a two-hundred day moving average price of $47.42. The company has a market cap of $2.89 billion, a P/E ratio of 14.03 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 posted its quarterly earnings data on Thursday, August 7th. The company reported $1.45 EPS for the quarter, missing analysts' consensus estimates of $1.76 by ($0.31). The business had revenue of $490.21 million during the quarter, compared to analyst estimates of $505.20 million. United Parks & Resorts had a negative return on equity of 47.59% and a net margin of 12.39%.United Parks & Resorts's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. On average, analysts expect that United Parks & Resorts will post 3.95 earnings per share for the current year.

Institutional Investors Weigh In On United Parks & Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of United Parks & Resorts by 15.2% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,548,403 shares of the company's stock valued at $255,575,000 after purchasing an additional 599,043 shares during the last quarter. Voss Capital LP lifted its holdings in United Parks & Resorts by 3.7% during the second quarter. Voss Capital LP now owns 1,965,000 shares of the company's stock valued at $92,650,000 after purchasing an additional 69,576 shares during the last quarter. River Road Asset Management LLC increased its position in shares of United Parks & Resorts by 3.0% during the second quarter. River Road Asset Management LLC now owns 1,870,138 shares of the company's stock valued at $88,514,000 after buying an additional 54,186 shares during the period. Hawk Ridge Capital Management LP increased its position in shares of United Parks & Resorts by 21.9% during the first quarter. Hawk Ridge Capital Management LP now owns 1,740,768 shares of the company's stock valued at $79,135,000 after buying an additional 312,970 shares during the period. Finally, HG Vora Capital Management LLC grew its stake in United Parks & Resorts by 180.0% in the 1st quarter. HG Vora Capital Management LLC now owns 1,400,000 shares of the company's stock worth $63,644,000 after buying an additional 900,000 shares in 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.