Citigroup Raises United Parks & Resorts (NYSE:PRKS) Price Target to $55.00

United Parks & Resorts (NYSE:PRKS) had its target price lifted by investment analysts at Citigroup from $50.00 to $55.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 7.09% from the company’s previous close.

PRKS has been the subject of a number of other research reports. Stifel Nicolaus cut their price target on shares of United Parks & Resorts from $76.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Truist Financial cut their price target on shares of United Parks & Resorts from $68.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group downgraded shares of United Parks & Resorts from a “buy” rating to a “neutral” rating and cut their price target for the company from $63.00 to $53.00 in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on shares of United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, United Parks & Resorts presently has an average rating of “Moderate Buy” and an average target price of $65.00.

United Parks & Resorts Price Performance

Shares of PRKS stock traded up $0.08 during mid-day trading on Wednesday, hitting $51.36. The stock had a trading volume of 212,432 shares, compared to its average volume of 907,898. United Parks & Resorts has a fifty-two week low of $40.87 and a fifty-two week high of $60.36. The firm has a market cap of $3.21 billion, a PE ratio of 13.79 and a beta of 2.01. The company’s 50-day simple moving average is $51.40 and its 200-day simple moving average is $52.16.

United Parks & Resorts (NYSE:PRKS) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.08). The company had revenue of $497.60 million during the quarter, compared to analysts’ expectations of $503.93 million. United Parks & Resorts had a net margin of 14.06% and a negative return on equity of 92.07%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.35 EPS. On average, analysts expect that United Parks & Resorts will post 4.36 EPS for the current year.

Insider Activity

In other news, insider Jayson Maxwell sold 545 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $49.44, for a total transaction of $26,944.80. Following the completion of the sale, the insider now directly owns 722 shares of the company’s stock, valued at approximately $35,695.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider George Anthony Taylor sold 23,837 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $52.94, for a total transaction of $1,261,930.78. Following the completion of the sale, the insider now directly owns 85,463 shares of the company’s stock, valued at approximately $4,524,411.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jayson Maxwell sold 545 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $49.44, for a total transaction of $26,944.80. Following the sale, the insider now directly owns 722 shares of the company’s stock, valued at $35,695.68. The disclosure for this sale can be found here. Insiders sold 37,366 shares of company stock valued at $1,938,984 in the last ninety days. Company insiders own 1.10% of the company’s stock.

United Parks & Resorts Company Profile

United Parks & Resorts Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. It operates and licenses SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; Abu Dhabi, United Arab Emirates; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.