United Parks & Resorts (NYSE:PRKS) Price Target Lowered to $50.00 at Morgan Stanley

United Parks & Resorts (NYSE:PRKS) had its target price reduced by Morgan Stanley from $52.00 to $50.00 in a research note issued to investors on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

PRKS has been the subject of a number of other reports. Truist Financial cut their price objective on shares of United Parks & Resorts from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Barclays cut their price objective on shares of United Parks & Resorts from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Friday, July 11th. UBS Group began coverage on shares of United Parks & Resorts in a research report on Wednesday, April 9th. They issued a “neutral” rating and a $49.00 price objective for the company. Citigroup raised their price objective on shares of United Parks & Resorts from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, July 10th. Finally, Stifel Nicolaus cut their price objective on shares of United Parks & Resorts from $74.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $57.15.

United Parks & Resorts Stock Up 1.5%

PRKS opened at $47.34 on Monday. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 12.62 and a beta of 1.48. The firm has a 50-day moving average price of $46.69 and a 200-day moving average price of $47.62. United Parks & Resorts has a twelve month low of $37.68 and a twelve month high of $60.83.

United Parks & Resorts (NYSE:PRKS) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.29) EPS 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 firm had revenue of $286.95 million during the quarter, compared to the consensus estimate of $294.28 million. During the same quarter last year, the business posted ($0.17) earnings per share. United Parks & Resorts’s revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts expect that United Parks & Resorts will post 3.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of United Parks & Resorts during the first quarter worth approximately $31,000. GAMMA Investing LLC increased its stake in shares of 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 buying an additional 2,425 shares during the period. Mariner LLC purchased a new position in shares of United Parks & Resorts in the fourth quarter worth $214,000. QRG Capital Management Inc. increased its stake 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 buying an additional 456 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of United Parks & Resorts in the fourth quarter worth $252,000.

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.