Truist Financial Issues Pessimistic Forecast for United Parks & Resorts (NYSE:PRKS) Stock Price

United Parks & Resorts (NYSE:PRKS) had its target price reduced by analysts at Truist Financial from $64.00 to $62.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 28.97% from the company’s previous close.

PRKS has been the subject of several other reports. Guggenheim raised their price objective on United Parks & Resorts from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Barclays began coverage on shares of United Parks & Resorts in a research report on Friday, March 14th. They set an “equal weight” rating and a $50.00 price target for the company. Macquarie dropped their price objective on shares of United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, Mizuho raised their target price on shares of United Parks & Resorts from $43.00 to $45.00 and gave the stock an “underperform” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $61.18.

United Parks & Resorts Price Performance

NYSE PRKS opened at $48.07 on Tuesday. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 12.05 and a beta of 1.96. The stock’s fifty day moving average price is $51.18 and its 200 day moving average price is $53.26. United Parks & Resorts has a 1 year low of $44.72 and a 1 year high of $60.83.

Insiders Place Their Bets

In other United Parks & Resorts news, insider Byron Surrett sold 7,008 shares of United Parks & Resorts stock in a transaction on Monday, March 10th. The shares were sold at an average price of $48.90, for a total transaction of $342,691.20. Following the sale, the insider now owns 11,050 shares of the company’s stock, valued at $540,345. The trade was a 38.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On United Parks & Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of PRKS. Public Employees Retirement System of Ohio purchased a new stake in United Parks & Resorts in the 3rd quarter valued at $32,000. R Squared Ltd purchased a new stake in shares of United Parks & Resorts in the fourth quarter valued at about $72,000. KBC Group NV increased its position in United Parks & Resorts by 60.2% during the fourth quarter. KBC Group NV now owns 1,698 shares of the company’s stock worth $95,000 after purchasing an additional 638 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in United Parks & Resorts by 267.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,839 shares of the company’s stock worth $103,000 after purchasing an additional 1,339 shares during the period. Finally, Schechter Investment Advisors LLC purchased a new position in United Parks & Resorts during the fourth quarter worth about $209,000.

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.