United Parks & Resorts (NYSE:PRKS) Sets New 52-Week Low After Analyst Downgrade

Shares of United Parks & Resorts Inc. (NYSE:PRKS) reached a new 52-week low during trading on Wednesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock traded as low as $34.05 and last traded at $34.3230, with a volume of 1480143 shares traded. The stock had previously closed at $34.84.

Several other research analysts have also recently issued reports on PRKS. Weiss Ratings reissued a “hold (c)” rating on shares of United Parks & Resorts in a report on Wednesday, November 5th. Barclays cut 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 note on Tuesday. Morgan Stanley decreased their price target on United Parks & Resorts from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, August 4th. Citigroup increased their price objective on United Parks & Resorts from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Finally, Truist Financial raised their target price on United Parks & Resorts from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $52.09.

Institutional Trading of United Parks & Resorts

A number of institutional investors have recently bought and sold shares of PRKS. CWM LLC grew its holdings in United Parks & Resorts by 74.3% in the third quarter. CWM LLC now owns 495 shares of the company’s stock valued at $26,000 after purchasing an additional 211 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of United Parks & Resorts by 114.0% in the 3rd quarter. Federated Hermes Inc. now owns 550 shares of the company’s stock worth $28,000 after buying an additional 293 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its stake in United Parks & Resorts by 7.4% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company’s stock valued at $205,000 after acquiring an additional 310 shares during the last quarter. Inspire Investing LLC grew its stake in United Parks & Resorts by 4.7% in the 3rd quarter. Inspire Investing LLC now owns 8,738 shares of the company’s stock valued at $452,000 after acquiring an additional 392 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in United Parks & Resorts by 4.9% during the 2nd quarter. Captrust Financial Advisors now owns 8,999 shares of the company’s stock valued at $424,000 after acquiring an additional 420 shares in the last quarter.

United Parks & Resorts Price Performance

The company has a market cap of $1.82 billion, a price-to-earnings ratio of 8.85 and a beta of 1.38. The business’s 50-day simple moving average is $49.39 and its 200-day simple moving average is $48.34.

United Parks & Resorts (NYSE:PRKS) last released its quarterly earnings results on Thursday, November 6th. The company reported $1.61 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.63). United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The business had revenue of $511.85 million during the quarter, compared to analyst estimates of $540.43 million. During the same quarter in the prior year, the company earned $2.08 earnings per share. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

United Parks & Resorts announced that its Board of Directors has approved a share repurchase plan on Friday, September 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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.