United Parks & Resorts (NYSE:PRKS) Price Target Lowered to $52.00 at JPMorgan Chase & Co.

United Parks & Resorts (NYSE:PRKS) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $60.00 to $52.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 52.56% from the company’s current price.

Several other research analysts have also recently commented on PRKS. Stifel Nicolaus cut their price target on United Parks & Resorts from $65.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Mizuho lowered their price objective on United Parks & Resorts from $46.00 to $28.00 and set an “underperform” rating for the company in a report on Wednesday. Zacks Research raised United Parks & Resorts from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Barclays decreased their target price 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of United Parks & Resorts in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $52.09.

United Parks & Resorts Price Performance

United Parks & Resorts stock traded down $0.25 during midday trading on Wednesday, hitting $34.09. 367,722 shares of the company were exchanged, compared to its average volume of 918,157. The company has a market cap of $1.88 billion, a PE ratio of 9.11 and a beta of 1.38. United Parks & Resorts has a fifty-two week low of $33.84 and a fifty-two week high of $60.83. The company’s fifty day moving average price is $50.23 and its 200-day moving average price is $48.55.

United Parks & Resorts (NYSE:PRKS) last posted 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). The firm had revenue of $511.85 million for the quarter, compared to analysts’ expectations of $540.43 million. United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.08 EPS. On average, analysts expect that United Parks & Resorts will post 3.95 EPS for the current fiscal year.

United Parks & Resorts declared that its board has authorized a share buyback plan on Friday, September 5th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of United Parks & Resorts

Institutional investors and hedge funds have recently bought and sold shares of the stock. HG Vora Capital Management LLC boosted its holdings in shares of United Parks & Resorts by 180.0% in the first quarter. HG Vora Capital Management LLC now owns 1,400,000 shares of the company’s stock worth $63,644,000 after buying an additional 900,000 shares during the period. Voss Capital LP boosted its stake in United Parks & Resorts by 30.9% in the 1st quarter. Voss Capital LP now owns 1,895,424 shares of the company’s stock worth $86,166,000 after purchasing an additional 447,924 shares during the period. SG Americas Securities LLC purchased a new position in United Parks & Resorts during the 3rd quarter worth approximately $19,209,000. ING Groep NV acquired a new stake in United Parks & Resorts during the 3rd quarter valued at $18,095,000. Finally, Hawk Ridge Capital Management LP lifted its holdings in shares of United Parks & Resorts by 21.9% in the first quarter. Hawk Ridge Capital Management LP now owns 1,740,768 shares of the company’s stock valued at $79,135,000 after purchasing an additional 312,970 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.