Morgan Stanley Increases United Parks & Resorts (NYSE:PRKS) Price Target to $52.00

United Parks & Resorts (NYSE:PRKS) had its price target upped by research analysts at Morgan Stanley from $50.00 to $52.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 6.75% from the company’s current price.

PRKS has been the subject of a number of other research reports. Mizuho boosted their price target on United Parks & Resorts from $43.00 to $45.00 and gave the stock an “underperform” rating in a research report on Thursday, February 27th. Truist Financial reduced their price objective on shares of United Parks & Resorts from $62.00 to $52.00 and set a “buy” rating for the company in a report on Monday, April 14th. UBS Group started coverage on shares of United Parks & Resorts in a research report on Wednesday, April 9th. They issued a “neutral” rating and a $49.00 target price for the company. Macquarie dropped their price target on shares of United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Stifel Nicolaus reduced their price target on shares of United Parks & Resorts from $74.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, United Parks & Resorts currently has an average rating of “Hold” and a consensus target price of $58.15.

United Parks & Resorts Stock Performance

Shares of PRKS opened at $48.71 on Tuesday. The firm has a fifty day moving average of $45.39 and a 200-day moving average of $51.52. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 12.21 and a beta of 1.51. United Parks & Resorts has a 1 year low of $37.68 and a 1 year high of $60.83.

United Parks & Resorts (NYSE:PRKS) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. The business had revenue of $286.95 million for the quarter, compared to the consensus estimate of $294.28 million. During the same period last year, the firm posted ($0.17) EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. Analysts predict that United Parks & Resorts will post 3.95 EPS for the current year.

Insider Buying and Selling

In related news, insider Byron Surrett sold 7,008 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $48.90, for a total value of $342,691.20. Following the completion of the transaction, the insider now owns 11,050 shares in the company, valued at $540,345. This trade represents a 38.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Institutional Trading of United Parks & Resorts

Hedge funds have recently bought and sold shares of the company. Barclays PLC acquired a new stake in shares of United Parks & Resorts during the third quarter valued at approximately $18,222,000. Perpetual Ltd raised its stake in United Parks & Resorts by 37.8% during the 4th quarter. Perpetual Ltd now owns 459,150 shares of the company’s stock valued at $25,800,000 after purchasing an additional 125,912 shares during the period. SG Americas Securities LLC lifted its holdings in shares of United Parks & Resorts by 894.2% in the fourth quarter. SG Americas Securities LLC now owns 145,250 shares of the company’s stock valued at $8,162,000 after purchasing an additional 130,640 shares in the last quarter. KBC Group NV lifted its holdings in shares of United Parks & Resorts by 60.2% in the fourth quarter. KBC Group NV now owns 1,698 shares of the company’s stock valued at $95,000 after purchasing an additional 638 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of United Parks & Resorts in the fourth quarter worth $72,000.

United Parks & Resorts Company Profile

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.