United Parks & Resorts (NYSE:PRKS) Stock Price Up 4.5% After Analyst Upgrade

United Parks & Resorts Inc. (NYSE:PRKS) shares were up 4.5% during trading on Monday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The company traded as high as $34.07 and last traded at $34.1250. 91,131 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 933,916 shares. The stock had previously closed at $32.67.

Other equities research analysts have also issued research reports about the company. UBS Group restated a “neutral” rating and set a $45.00 price objective on shares of United Parks & Resorts in a research report on Monday, June 15th. Barclays increased their target price on United Parks & Resorts from $37.00 to $41.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. Mizuho set a $51.00 price target on United Parks & Resorts in a research note on Wednesday, August 5th. Citigroup reduced their price target on United Parks & Resorts from $49.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. Finally, Guggenheim boosted their price target on United Parks & Resorts from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, United Parks & Resorts has an average rating of “Hold” and an average target price of $45.40.

Insider Activity at United Parks & Resorts

In other news, insider James Forrester, Jr. sold 1,150 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $35.71, for a total transaction of $41,066.50. Following the completion of the transaction, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Finazzo sold 6,622 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $44.20, for a total transaction of $292,692.40. Following the transaction, the insider directly owned 123,663 shares of the company’s stock, valued at $5,465,904.60. The trade was a 5.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On United Parks & Resorts

A number of institutional investors have recently made changes to their positions in the stock. Group One Trading LLC acquired a new stake in shares of United Parks & Resorts in the second quarter valued at about $31,000. Global Retirement Partners LLC acquired a new position in shares of United Parks & Resorts in the second quarter worth approximately $31,000. Rockefeller Capital Management L.P. lifted its stake in shares of United Parks & Resorts by 183.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company’s stock worth $31,000 after acquiring an additional 551 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of United Parks & Resorts in the second quarter worth approximately $53,000. Finally, Versant Capital Management Inc lifted its stake in shares of United Parks & Resorts by 40.5% in the second quarter. Versant Capital Management Inc now owns 1,862 shares of the company’s stock worth $89,000 after acquiring an additional 537 shares during the period.

United Parks & Resorts Price Performance

The company has a fifty day moving average of $38.69 and a 200 day moving average of $39.91. The firm has a market capitalization of $1.54 billion, a P/E ratio of 13.34, a PEG ratio of 3.17 and a beta of 1.25.

United Parks & Resorts (NYSE:PRKS) last released its earnings results on Tuesday, August 4th. The company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.33). United Parks & Resorts had a net margin of 8.11% and a negative return on equity of 27.85%. The firm had revenue of $483.32 million for the quarter, compared to analyst estimates of $492.10 million. During the same period in the prior year, the company posted $1.45 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that United Parks & Resorts Inc. will post 2.85 EPS for the current year.

United Parks & Resorts Company Profile

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.