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

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

Several other analysts have also issued reports on PRKS. B. Riley restated a “buy” rating and issued a $71.00 price objective on shares of United Parks & Resorts in a report on Monday, October 7th. JPMorgan Chase & Co. lowered their price objective on shares of United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Truist Financial cut their target price on United Parks & Resorts from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Citigroup upped their price target on 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, Deutsche Bank Aktiengesellschaft dropped their price objective on 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, United Parks & Resorts has an average rating of “Moderate Buy” and an average price target of $63.20.

United Parks & Resorts Price Performance

United Parks & Resorts stock opened at $52.67 on Friday. The firm has a 50 day simple moving average of $50.23 and a 200-day simple moving average of $51.80. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 13.75 and a beta of 2.01. United Parks & Resorts has a 1-year low of $40.87 and a 1-year high of $60.36.

United Parks & Resorts (NYSE:PRKS) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.08). United Parks & Resorts had a negative return on equity of 92.07% and a net margin of 14.06%. The business had revenue of $497.60 million during the quarter, compared to analysts’ expectations of $503.93 million. During the same quarter in the previous year, the company posted $1.35 earnings per share. The company’s revenue was up .3% on a year-over-year basis. Equities analysts expect that United Parks & Resorts will post 4.35 earnings per share for the current fiscal year.

Insider Activity 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 dated 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 sale, the insider now owns 85,463 shares in the company, valued at $4,524,411.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider George Anthony Taylor sold 23,837 shares of United Parks & Resorts stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $52.94, for a total value of $1,261,930.78. Following the completion of the transaction, the insider now owns 85,463 shares in the company, valued at $4,524,411.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yoshikazu Maruyama sold 12,984 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $50.07, for a total transaction of $650,108.88. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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

Several large investors have recently bought and sold shares of PRKS. Raymond James & Associates acquired a new position in shares of United Parks & Resorts during the 3rd quarter worth about $4,487,000. Blue Trust Inc. purchased a new stake in United Parks & Resorts during the third quarter worth approximately $30,000. nVerses Capital LLC acquired a new position in United Parks & Resorts in the third quarter valued at approximately $304,000. Exchange Traded Concepts LLC purchased a new position in United Parks & Resorts in the third quarter valued at approximately $28,000. Finally, Inspire Investing LLC acquired a new stake in United Parks & Resorts during the third quarter worth approximately $411,000.

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.