United Parks & Resorts (NYSE:PRKS) Given New $74.00 Price Target at Guggenheim

United Parks & Resorts (NYSE:PRKS) had its price objective hoisted by Guggenheim from $72.00 to $74.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently issued reports on PRKS. Barclays initiated coverage on United Parks & Resorts in a report on Friday, March 14th. They issued an “equal weight” rating and a $50.00 price target for the company. Morgan Stanley lifted their price objective on United Parks & Resorts from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Stifel Nicolaus lowered their price objective on United Parks & Resorts from $74.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Mizuho lifted their price objective on United Parks & Resorts from $43.00 to $45.00 and gave the stock an “underperform” rating in a research report on Thursday, February 27th. Finally, Macquarie lowered their price objective on United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, United Parks & Resorts currently has an average rating of “Hold” and an average price target of $58.15.

United Parks & Resorts Stock Down 0.4%

United Parks & Resorts stock opened at $49.15 on Tuesday. The stock has a 50-day simple moving average of $45.41 and a 200 day simple moving average of $51.55. United Parks & Resorts has a 12-month low of $37.68 and a 12-month high of $60.83. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 12.32 and a beta of 1.51.

United Parks & Resorts (NYSE:PRKS) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. The business had revenue of $286.95 million during the quarter, compared to the consensus estimate of $294.28 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Parks & Resorts will post 3.95 EPS for the current year.

Insider Transactions at United Parks & Resorts

In other news, insider Byron Surrett sold 7,008 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $48.90, for a total transaction of $342,691.20. Following the completion of the transaction, the insider now directly owns 11,050 shares in the company, valued at approximately $540,345. The trade was a 38.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On United Parks & Resorts

Several institutional investors and hedge funds have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of United Parks & Resorts by 15.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,548,403 shares of the company’s stock valued at $255,575,000 after purchasing an additional 599,043 shares during the period. River Road Asset Management LLC grew its position in shares of United Parks & Resorts by 34.1% in the 4th quarter. River Road Asset Management LLC now owns 1,771,636 shares of the company’s stock valued at $99,548,000 after purchasing an additional 450,670 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of United Parks & Resorts by 1.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,452,380 shares of the company’s stock valued at $81,609,000 after purchasing an additional 19,012 shares during the period. Voss Capital LP grew its position in shares of United Parks & Resorts by 0.4% in the 4th quarter. Voss Capital LP now owns 1,447,500 shares of the company’s stock valued at $81,335,000 after purchasing an additional 5,838 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of United Parks & Resorts by 62.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,055,026 shares of the company’s stock valued at $59,282,000 after purchasing an additional 404,120 shares during the period.

United Parks & Resorts Company Profile

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.