United Parks & Resorts Inc. (NYSE:PRKS) Given Average Recommendation of “Hold” by Analysts

United Parks & Resorts Inc. (NYSE:PRKS) has received a consensus rating of “Hold” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $50.8182.

PRKS has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price target on United Parks & Resorts from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Truist Financial reduced their target price on United Parks & Resorts from $61.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, December 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of United Parks & Resorts in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on shares of United Parks & Resorts from $60.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Finally, Zacks Research downgraded shares of United Parks & Resorts from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th.

United Parks & Resorts Stock Performance

PRKS stock opened at $36.32 on Friday. The firm has a market cap of $1.98 billion, a PE ratio of 11.11 and a beta of 1.30. The firm’s fifty day moving average is $37.37 and its 200 day moving average is $45.80. United Parks & Resorts has a one year low of $29.62 and a one year high of $60.63.

United Parks & Resorts (NYSE:PRKS) last issued its quarterly earnings data on Thursday, November 6th. The company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.63). United Parks & Resorts had a negative return on equity of 44.47% and a net margin of 10.83%.The firm had revenue of $511.85 million during the quarter, compared to analyst estimates of $540.43 million. During the same quarter last year, the company posted $2.08 EPS. The company’s revenue was down 6.2% on a year-over-year basis. Research analysts predict that United Parks & Resorts will post 3.95 earnings per share for the current fiscal year.

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

Insider Transactions at United Parks & Resorts

In related news, insider Christopher L. Finazzo sold 7,200 shares of United Parks & Resorts stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $35.12, for a total value of $252,864.00. Following the sale, the insider directly owned 138,285 shares in the company, valued at approximately $4,856,569.20. The trade was a 4.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On United Parks & Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in PRKS. Hawk Ridge Capital Management LP raised its holdings in shares of United Parks & Resorts by 21.9% during the 1st quarter. Hawk Ridge Capital Management LP now owns 1,740,768 shares of the company’s stock worth $79,135,000 after acquiring an additional 312,970 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in United Parks & Resorts during the second quarter worth about $1,533,000. Norges Bank purchased a new position in United Parks & Resorts during the second quarter worth about $12,019,000. Comerica Bank boosted its holdings in United Parks & Resorts by 158.5% in the 1st quarter. Comerica Bank now owns 22,462 shares of the company’s stock valued at $1,021,000 after purchasing an additional 13,772 shares during the last quarter. Finally, Interval Partners LP acquired a new position in United Parks & Resorts in the 1st quarter valued at about $1,424,000.

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.