United Parks & Resorts (NYSE:PRKS) Price Target Lowered to $70.00 at Macquarie

United Parks & Resorts (NYSE:PRKS) had its target price reduced by Macquarie from $75.00 to $70.00 in a report published on Friday morning, Benzinga reports. Macquarie currently has an outperform rating on the stock.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. reduced their price objective on United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Truist Financial decreased their price target on shares of United Parks & Resorts from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Citigroup boosted their price target on shares of United Parks & Resorts from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group cut United Parks & Resorts from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $63.00 to $53.00 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, United Parks & Resorts presently has an average rating of “Moderate Buy” and a consensus price target of $63.20.

United Parks & Resorts Trading Down 2.6 %

PRKS stock opened at $52.67 on Friday. United Parks & Resorts has a 1-year low of $40.87 and a 1-year high of $60.36. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 14.16 and a beta of 2.01. The company’s 50 day moving average is $50.23 and its 200 day moving average is $51.74.

United Parks & Resorts (NYSE:PRKS) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.46 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 the consensus estimate of $503.93 million. United Parks & Resorts had a negative return on equity of 92.07% and a net margin of 14.06%. United Parks & Resorts’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $1.35 EPS. As a group, sell-side analysts forecast that United Parks & Resorts will post 4.35 EPS for the current fiscal year.

Insider Transactions at United Parks & Resorts

In other United Parks & Resorts news, insider George Anthony Taylor sold 23,837 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $52.94, for a total transaction of $1,261,930.78. Following the completion of the transaction, the insider now owns 85,463 shares of the company’s stock, valued at $4,524,411.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other United Parks & Resorts news, Director Yoshikazu Maruyama sold 12,984 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $50.07, for a total value of $650,108.88. Following the completion of the transaction, the director now directly owns 41,766 shares in the company, valued at approximately $2,091,223.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider George Anthony Taylor sold 23,837 shares of United Parks & Resorts stock in a transaction dated 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 sale, the insider now directly owns 85,463 shares in the company, valued at $4,524,411.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,366 shares of company stock worth $1,938,984. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On United Parks & Resorts

A number of institutional investors have recently bought and sold shares of the stock. Perpetual Ltd bought a new stake in United Parks & Resorts during the 3rd quarter valued at approximately $16,862,000. Raymond James & Associates purchased a new position in shares of United Parks & Resorts in the 3rd quarter valued at approximately $4,487,000. SG Americas Securities LLC purchased a new position in shares of United Parks & Resorts in the 3rd quarter valued at approximately $739,000. Inspire Investing LLC purchased a new stake in United Parks & Resorts in the third quarter worth $411,000. Finally, Handelsbanken Fonder AB purchased a new stake in United Parks & Resorts in the third quarter worth $390,000.

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.