United Parks & Resorts Inc. (NYSE:PRKS) Receives Consensus Rating of “Hold” from Brokerages

Shares of United Parks & Resorts Inc. (NYSE:PRKS) have received an average rating of “Hold” from the thirteen brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $50.8182.

Several equities research analysts have weighed in on the company. Mizuho lowered their target price on United Parks & Resorts from $46.00 to $28.00 and set an “underperform” rating for the company in a report on Wednesday, November 12th. Truist Financial decreased their price objective on United Parks & Resorts from $61.00 to $47.00 and set a “buy” rating for the company in a report on Thursday. The Goldman Sachs Group dropped their target price on shares of United Parks & Resorts from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Zacks Research downgraded shares of United Parks & Resorts from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. lowered their price target on shares of United Parks & Resorts from $60.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PRKS. Nomura Holdings Inc. grew its stake in shares of United Parks & Resorts by 742.3% during the third quarter. Nomura Holdings Inc. now owns 4,476,357 shares of the company’s stock worth $231,428,000 after acquiring an additional 3,944,894 shares during the last quarter. Vanguard Group Inc. boosted its stake in United Parks & Resorts by 9.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,994,579 shares of the company’s stock worth $154,820,000 after purchasing an additional 256,367 shares in the last quarter. Voss Capital LP grew its position in United Parks & Resorts by 4.3% during the 3rd quarter. Voss Capital LP now owns 2,050,000 shares of the company’s stock worth $105,985,000 after purchasing an additional 85,000 shares during the last quarter. River Road Asset Management LLC increased its stake in United Parks & Resorts by 3.0% during the 2nd quarter. River Road Asset Management LLC now owns 1,870,138 shares of the company’s stock valued at $88,514,000 after purchasing an additional 54,186 shares in the last quarter. Finally, Hawk Ridge Capital Management LP increased its stake in United Parks & Resorts by 21.9% during the 1st quarter. Hawk Ridge Capital Management LP now owns 1,740,768 shares of the company’s stock valued at $79,135,000 after purchasing an additional 312,970 shares in the last quarter.

United Parks & Resorts Price Performance

Shares of PRKS stock opened at $35.54 on Monday. The company’s 50-day simple moving average is $43.84 and its two-hundred day simple moving average is $46.95. United Parks & Resorts has a one year low of $29.62 and a one year high of $60.63. The company has a market capitalization of $1.94 billion, a P/E ratio of 10.87 and a beta of 1.31.

United Parks & Resorts (NYSE:PRKS) last announced its quarterly earnings results 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 10.83% and a negative return on equity of 44.47%. The firm had revenue of $511.85 million during the quarter, compared to analysts’ expectations of $540.43 million. During the same quarter in the previous year, the firm posted $2.08 EPS. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, research analysts expect that United Parks & Resorts will post 3.95 EPS for the current fiscal year.

United Parks & Resorts declared that its Board of Directors has approved a share repurchase program on Friday, September 5th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.