United Parks & Resorts (NYSE:PRKS) Stock Rating Raised to Hold 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 note released on Monday,Zacks reports.

Several other equities research analysts have also commented on PRKS. Citigroup lowered their price objective on United Parks & Resorts from $49.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Barclays increased their price target on shares of United Parks & Resorts from $37.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. lifted their price objective on shares of United Parks & Resorts from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Mizuho set a $51.00 price objective on shares of United Parks & Resorts in a research report on Wednesday, August 5th. Finally, Guggenheim raised their target price on United Parks & Resorts from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.40.

United Parks & Resorts Trading Up 0.4%

Shares of NYSE:PRKS opened at $33.89 on Monday. The company has a market capitalization of $1.54 billion, a PE ratio of 13.34, a P/E/G ratio of 3.17 and a beta of 1.25. United Parks & Resorts has a 12-month low of $28.77 and a 12-month high of $54.42. The business’s fifty day simple moving average is $38.69 and its 200-day simple moving average is $39.91.

United Parks & Resorts (NYSE:PRKS) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.33). The company had revenue of $483.32 million for the quarter, compared to analysts’ expectations of $492.10 million. United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 earnings per share. Research analysts predict that United Parks & Resorts will post 2.85 EPS for the current year.

Insider Buying and Selling

In other news, insider James W. Forrester, Jr. sold 1,150 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $35.71, for a total transaction of $41,066.50. Following the transaction, the insider directly owned 26,733 shares in the company, valued at approximately $954,635.43. This trade represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher L. Finazzo sold 6,622 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $44.20, for a total transaction of $292,692.40. Following the transaction, the insider owned 123,663 shares in the company, valued at approximately $5,465,904.60. This trade represents a 5.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.70% of the stock is currently owned by insiders.

Institutional Trading of United Parks & Resorts

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in United Parks & Resorts by 46.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,113 shares of the company’s stock valued at $68,000 after buying an additional 673 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of United Parks & Resorts by 2,341.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,054 shares of the company’s stock worth $164,000 after acquiring an additional 4,847 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of United Parks & Resorts in the 2nd quarter worth approximately $291,000. Squarepoint Ops LLC purchased a new position in United Parks & Resorts in the 2nd quarter valued at approximately $1,868,000. Finally, Baird Financial Group Inc. increased its stake in United Parks & Resorts by 12.3% in the 2nd quarter. Baird Financial Group Inc. now owns 8,425 shares of the company’s stock valued at $402,000 after purchasing an additional 925 shares in the last quarter.

About United Parks & Resorts

United Parks & Resorts Inc (NYSE: PRKS) is a theme park and entertainment company that owns and operates a portfolio of parks and attractions in the United States. Its properties combine amusement rides, live entertainment, animal exhibits, educational experiences, and seasonal events for families and other guests.

The company’s principal brands include SeaWorld, Busch Gardens, Sesame Place, Discovery Cove, Aquatica, Adventure Island, and Water Country USA. Its parks offer roller coasters and other rides, water attractions, animal encounters, zoological presentations, dining, retail, and hospitality-related experiences.