Brokerages Set United Parks & Resorts Inc. (NYSE:PRKS) PT at $57.73

United Parks & Resorts Inc. (NYSE:PRKS) has been given a consensus recommendation of “Hold” by the twelve research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $57.7273.

Several research analysts have recently issued reports on PRKS shares. Barclays reduced their price target on United Parks & Resorts from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday, July 11th. Stifel Nicolaus reduced their price target on United Parks & Resorts from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Guggenheim reduced their price target on United Parks & Resorts from $74.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Truist Financial raised their price target on United Parks & Resorts from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Finally, Mizuho raised their price target on United Parks & Resorts from $44.00 to $46.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 13th.

United Parks & Resorts Stock Performance

NYSE PRKS opened at $51.80 on Wednesday. The stock has a fifty day moving average of $50.97 and a 200-day moving average of $47.53. The stock has a market capitalization of $2.85 billion, a P/E ratio of 13.85 and a beta of 1.34. United Parks & Resorts has a 52 week low of $37.68 and a 52 week high of $60.83.

United Parks & Resorts (NYSE:PRKS) last released its earnings results on Thursday, August 7th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.31). The firm had revenue of $490.21 million during the quarter, compared to analyst estimates of $505.20 million. United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted $1.46 earnings per share. Equities research analysts forecast that United Parks & Resorts will post 3.95 earnings per share for the current fiscal year.

United Parks & Resorts declared that its board has initiated a stock buyback program on Friday, September 5th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PRKS. Caitong International Asset Management Co. Ltd bought a new position in United Parks & Resorts during the first quarter worth about $31,000. GAMMA Investing LLC lifted its holdings in United Parks & Resorts by 3,233.3% during the first quarter. GAMMA Investing LLC now owns 2,500 shares of the company’s stock worth $114,000 after acquiring an additional 2,425 shares in the last quarter. Neo Ivy Capital Management bought a new position in United Parks & Resorts during the second quarter worth about $123,000. Prudential Financial Inc. bought a new position in United Parks & Resorts during the second quarter worth about $208,000. Finally, Tower Research Capital LLC TRC lifted its holdings in United Parks & Resorts by 238.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,023 shares of the company’s stock worth $190,000 after acquiring an additional 2,835 shares in the last quarter.

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.