United Parks & Resorts (NYSE:PRKS) PT Lowered to $60.00 at Truist Financial

United Parks & Resorts (NYSE:PRKS) had its target price cut by analysts at Truist Financial from $62.00 to $60.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 14.29% from the stock’s current price.

A number of other analysts have also weighed in on the stock. B. Riley reiterated a “buy” rating and set a $71.00 target price on shares of United Parks & Resorts in a report on Monday, October 7th. JPMorgan Chase & Co. decreased their price target on shares of United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Citigroup boosted their price objective on shares of United Parks & Resorts from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Stifel Nicolaus decreased their target price on shares of United Parks & Resorts from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group cut United Parks & Resorts from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $63.00 to $53.00 in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

United Parks & Resorts Stock Performance

PRKS traded down $0.17 during midday trading on Monday, reaching $52.50. 96,486 shares of the company were exchanged, compared to its average volume of 895,083. The company’s fifty day moving average price is $50.23 and its 200 day moving average price is $51.74. United Parks & Resorts has a one year low of $40.87 and a one year high of $60.36. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 14.11 and a beta of 2.01.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.08). United Parks & Resorts had a net margin of 14.06% and a negative return on equity of 92.07%. The business had revenue of $497.60 million during the quarter, compared to the consensus estimate of $503.93 million. During the same period last year, the firm earned $1.35 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. As a group, sell-side analysts anticipate that United Parks & Resorts will post 4.35 earnings per share for the current fiscal year.

Insider Activity at United Parks & Resorts

In other United Parks & Resorts news, insider Jayson Maxwell sold 545 shares of United Parks & Resorts stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $49.44, for a total transaction of $26,944.80. Following the completion of the sale, the insider now owns 722 shares of the company’s stock, valued at approximately $35,695.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Jayson Maxwell sold 545 shares of United Parks & Resorts stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $49.44, for a total value of $26,944.80. Following the sale, the insider now owns 722 shares of the company’s stock, valued at approximately $35,695.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yoshikazu Maruyama sold 12,984 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $50.07, for a total value of $650,108.88. Following the completion of the transaction, the director now owns 41,766 shares in the company, valued at $2,091,223.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,366 shares of company stock valued at $1,938,984 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On United Parks & Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Perpetual Ltd purchased a new stake in shares of United Parks & Resorts in the 3rd quarter valued at about $16,862,000. SG Americas Securities LLC purchased a new position in United Parks & Resorts during the 3rd quarter worth $739,000. Inspire Investing LLC purchased a new stake in United Parks & Resorts in the 3rd quarter valued at approximately $411,000. nVerses Capital LLC acquired a new stake in United Parks & Resorts in the third quarter valued at $304,000. Finally, Handelsbanken Fonder AB acquired a new stake in shares of United Parks & Resorts in the third quarter valued at about $390,000.

About United Parks & Resorts

United Parks & Resorts Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. It operates and licenses SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; Abu Dhabi, United Arab Emirates; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.