JPMorgan Chase & Co. Issues Pessimistic Forecast for United Parks & Resorts (NYSE:PRKS) Stock Price

United Parks & Resorts (NYSE:PRKS) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $60.00 to $52.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 57.03% from the company’s current price.

PRKS has been the topic of several other research reports. Stifel Nicolaus decreased their price target on United Parks & Resorts from $65.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Truist Financial raised their price objective on United Parks & Resorts from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Mizuho decreased their target price on United Parks & Resorts from $46.00 to $28.00 and set an “underperform” rating on the stock in a research report on Wednesday. Zacks Research raised United Parks & Resorts from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of United Parks & Resorts in a report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $52.09.

United Parks & Resorts Trading Down 1.5%

Shares of United Parks & Resorts stock opened at $33.11 on Wednesday. The company has a market cap of $1.82 billion, a PE ratio of 8.85 and a beta of 1.38. The company has a 50 day moving average of $49.39 and a 200-day moving average of $48.34. United Parks & Resorts has a 1-year low of $32.98 and a 1-year high of $60.83.

United Parks & Resorts (NYSE:PRKS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.63). United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The firm had revenue of $511.85 million during the quarter, compared to the consensus estimate of $540.43 million. During the same period last year, the business earned $2.08 earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year. Research analysts forecast that United Parks & Resorts will post 3.95 earnings per share for the current year.

United Parks & Resorts announced that its board has authorized a stock buyback program on Friday, September 5th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On United Parks & Resorts

Hedge funds have recently added to or reduced their stakes in the business. Limestone Investment Advisors LP bought a new stake in United Parks & Resorts during the 3rd quarter worth approximately $300,000. EVR Research LP bought a new position in shares of United Parks & Resorts during the third quarter valued at $5,170,000. Invesco Ltd. lifted its holdings in shares of United Parks & Resorts by 76.0% during the third quarter. Invesco Ltd. now owns 136,129 shares of the company’s stock worth $7,038,000 after purchasing an additional 58,772 shares during the period. BNP Paribas Financial Markets grew its stake in shares of United Parks & Resorts by 153.2% in the third quarter. BNP Paribas Financial Markets now owns 7,245 shares of the company’s stock worth $375,000 after purchasing an additional 4,384 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of United Parks & Resorts by 136.8% in the third quarter. Legal & General Group Plc now owns 73,192 shares of the company’s stock worth $3,784,000 after purchasing an additional 42,285 shares during 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.