Zacks Research Upgrades United Parks & Resorts (NYSE:PRKS) to Hold

United Parks & Resorts (NYSE:PRKS) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday, Zacks reports.

A number of other research firms have also issued reports on PRKS. Guggenheim boosted their target price on shares of United Parks & Resorts from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of United Parks & Resorts from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group lifted their price target on United Parks & Resorts from $37.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Citizens Jmp started coverage on United Parks & Resorts in a report on Monday, June 29th. They set a “market perform” rating on the stock. Finally, Truist Financial reduced their price objective on United Parks & Resorts from $53.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, September 10th. Four research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.40.

United Parks & Resorts Stock Performance

Shares of PRKS opened at $33.89 on Monday. United Parks & Resorts has a 1 year low of $28.77 and a 1 year high of $54.42. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 3.17 and a beta of 1.25. The firm has a fifty day moving average of $38.69 and a 200-day moving average of $39.91.

United Parks & Resorts (NYSE:PRKS) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.33). United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%. The firm had revenue of $483.32 million for the quarter, compared to the consensus estimate of $492.10 million. During the same quarter in the prior year, the company posted $1.45 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. Analysts predict that United Parks & Resorts will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other news, insider James Forrester, Jr. sold 1,150 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $35.71, for a total transaction of $41,066.50. Following the transaction, the insider directly owned 26,733 shares of the company’s stock, valued at approximately $954,635.43. This trade represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Finazzo sold 6,622 shares of United Parks & Resorts stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $44.20, for a total transaction of $292,692.40. Following the sale, the insider owned 123,663 shares in the company, valued at approximately $5,465,904.60. This represents a 5.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On United Parks & Resorts

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in United Parks & Resorts by 46.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,113 shares of the company’s stock valued at $68,000 after buying an additional 673 shares during the period. Farther Finance Advisors LLC raised its position in shares of United Parks & Resorts by 2,341.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,054 shares of the company’s stock worth $164,000 after buying an additional 4,847 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of United Parks & Resorts in the 2nd quarter worth approximately $291,000. Squarepoint Ops LLC acquired a new stake in shares of United Parks & Resorts in the 2nd quarter worth approximately $1,868,000. Finally, Baird Financial Group Inc. lifted its stake in shares of United Parks & Resorts by 12.3% in the 2nd quarter. Baird Financial Group Inc. now owns 8,425 shares of the company’s stock worth $402,000 after acquiring an additional 925 shares during the period.

About United Parks & Resorts

United Parks & Resorts Inc (NYSE: PRKS) is a theme park and entertainment company that owns and operates a portfolio of parks and attractions in the United States. Its properties combine amusement rides, live entertainment, animal exhibits, educational experiences, and seasonal events for families and other guests.

The company’s principal brands include SeaWorld, Busch Gardens, Sesame Place, Discovery Cove, Aquatica, Adventure Island, and Water Country USA. Its parks offer roller coasters and other rides, water attractions, animal encounters, zoological presentations, dining, retail, and hospitality-related experiences.