United Parks & Resorts (NYSE:PRKS) Upgraded at Zacks Research

Zacks Research upgraded shares of United Parks & Resorts (NYSE:PRKS) from a strong sell rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their price target on shares of United Parks & Resorts from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Barclays lowered their price objective on United Parks & Resorts from $51.00 to $39.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 11th. Truist Financial reduced their target price on United Parks & Resorts from $61.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, December 4th. The Goldman Sachs Group lowered their price target on United Parks & Resorts from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Finally, Mizuho dropped their price target on United Parks & Resorts from $46.00 to $28.00 and set an “underperform” rating on the stock in a research note on Wednesday, November 12th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $50.82.

United Parks & Resorts Stock Performance

PRKS stock opened at $36.18 on Thursday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 11.06 and a beta of 1.28. The firm has a 50-day simple moving average of $37.09 and a two-hundred day simple moving average of $45.79. United Parks & Resorts has a one year low of $29.62 and a one year high of $60.63.

United Parks & Resorts (NYSE:PRKS) last issued 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 negative return on equity of 44.47% and a net margin of 10.83%.The firm had revenue of $511.85 million during the quarter, compared to analysts’ expectations of $540.43 million. During the same period in the previous year, the firm earned $2.08 EPS. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, equities analysts predict that United Parks & Resorts will post 3.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Christopher L. Finazzo sold 7,200 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $35.12, for a total value of $252,864.00. Following the transaction, the insider directly owned 138,285 shares of the company’s stock, valued at approximately $4,856,569.20. This represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Trading of United Parks & Resorts

A number of hedge funds have recently modified their holdings of the stock. CWM LLC raised its position in United Parks & Resorts by 74.3% during the third quarter. CWM LLC now owns 495 shares of the company’s stock valued at $26,000 after acquiring an additional 211 shares in the last quarter. Quarry LP acquired a new stake in shares of United Parks & Resorts during the 3rd quarter worth approximately $28,000. Federated Hermes Inc. grew its stake in shares of United Parks & Resorts by 114.0% during the 3rd quarter. Federated Hermes Inc. now owns 550 shares of the company’s stock worth $28,000 after purchasing an additional 293 shares during the period. Neo Ivy Capital Management purchased a new position in shares of United Parks & Resorts during the 2nd quarter valued at approximately $123,000. Finally, Pacer Advisors Inc. acquired a new position in shares of United Parks & Resorts in the 3rd quarter valued at $154,000.

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.