United Parks & Resorts (NYSE:PRKS) Price Target Raised to $52.00

United Parks & Resorts (NYSE:PRKS) had its target price increased by Morgan Stanley from $50.00 to $52.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms also recently issued reports on PRKS. Macquarie dropped their target price on shares of 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. Truist Financial dropped their target price on shares of United Parks & Resorts from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, April 14th. UBS Group started coverage on shares of United Parks & Resorts in a research report on Wednesday, April 9th. They set a “neutral” rating and a $49.00 target price for the company. Mizuho increased their target price on shares of 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, Barclays started 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 target price for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.15.

United Parks & Resorts Price Performance

Shares of PRKS stock opened at $48.48 on Tuesday. The firm has a market cap of $2.66 billion, a P/E ratio of 12.15 and a beta of 1.51. United Parks & Resorts has a 1-year low of $37.68 and a 1-year high of $60.83. The firm’s 50-day simple moving average is $45.38 and its 200-day simple moving average is $51.47.

United Parks & Resorts (NYSE:PRKS) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.06). The company had revenue of $286.95 million for the quarter, compared to analysts’ expectations of $294.28 million. United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.17) earnings per share. Analysts expect that United Parks & Resorts will post 3.95 earnings per share for the current fiscal year.

Insider Buying and Selling at United Parks & Resorts

In other United Parks & Resorts news, insider Byron Surrett sold 7,008 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $48.90, for a total value of $342,691.20. Following the sale, the insider now directly owns 11,050 shares in the company, valued at approximately $540,345. This trade represents a 38.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On United Parks & Resorts

A number of hedge funds have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP lifted its stake in United Parks & Resorts by 326.1% in the first quarter. Dark Forest Capital Management LP now owns 86,943 shares of the company’s stock valued at $3,952,000 after buying an additional 66,538 shares during the last quarter. Maverick Capital Ltd. lifted its stake in United Parks & Resorts by 85.7% in the first quarter. Maverick Capital Ltd. now owns 106,004 shares of the company’s stock valued at $4,819,000 after buying an additional 48,935 shares during the last quarter. Contrarian Capital Management L.L.C. increased its holdings in shares of United Parks & Resorts by 10.3% during the first quarter. Contrarian Capital Management L.L.C. now owns 21,500 shares of the company’s stock valued at $977,000 after purchasing an additional 2,000 shares during the period. Comerica Bank increased its holdings in shares of United Parks & Resorts by 158.5% during the first quarter. Comerica Bank now owns 22,462 shares of the company’s stock valued at $1,021,000 after purchasing an additional 13,772 shares during the period. Finally, Penn Capital Management Company LLC increased its holdings in shares of United Parks & Resorts by 14.6% during the first quarter. Penn Capital Management Company LLC now owns 311,822 shares of the company’s stock valued at $14,212,000 after purchasing an additional 39,780 shares during the period.

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.