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

United Parks & Resorts (NYSE:PRKS) had its target price trimmed by Guggenheim from $72.00 to $70.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

PRKS has been the topic of a number of other reports. Stifel Nicolaus dropped their target price on shares of United Parks & Resorts from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Truist Financial upped their price target on shares of United Parks & Resorts from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, November 8th. B. Riley reissued a “buy” rating and issued a $71.00 price target on shares of United Parks & Resorts in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Macquarie lowered their target price on United Parks & Resorts from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.60.

United Parks & Resorts Stock Up 0.1 %

United Parks & Resorts stock opened at $58.73 on Tuesday. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 14.72 and a beta of 2.00. The stock has a 50-day simple moving average of $52.18 and a 200 day simple moving average of $51.85. United Parks & Resorts has a 12-month low of $44.72 and a 12-month high of $60.36.

United Parks & Resorts (NYSE:PRKS) last issued its earnings results on Thursday, November 7th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.15). The business had revenue of $545.90 million for the quarter, compared to the consensus estimate of $550.47 million. United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 EPS. As a group, sell-side analysts anticipate that United Parks & Resorts will post 3.97 EPS for the current year.

Insider Activity

In other news, insider George Anthony Taylor sold 23,837 shares of the business’s 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 directly owns 85,463 shares in the company, valued at approximately $4,524,411.22. The trade was a 21.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yoshikazu Maruyama sold 12,984 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $50.07, for a total transaction of $650,108.88. Following the sale, the director now owns 41,766 shares in the company, valued at $2,091,223.62. This represents a 23.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 37,366 shares of company stock worth $1,938,984. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PRKS. Hexagon Capital Partners LLC purchased a new stake in shares of United Parks & Resorts during the 3rd quarter valued at $25,000. Exchange Traded Concepts LLC bought a new position in United Parks & Resorts in the third quarter valued at $28,000. Blue Trust Inc. bought a new position in shares of United Parks & Resorts during the 3rd quarter valued at $30,000. KBC Group NV bought a new stake in United Parks & Resorts in the third quarter valued at approximately $54,000. Finally, Amalgamated Bank purchased a new position in United Parks & Resorts during the 3rd quarter valued at about $65,000.

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.