United Parks & Resorts (NYSE:PRKS) Reaches New 52-Week Low – Should You Sell?

United Parks & Resorts Inc. (NYSE:PRKS)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $29.21 and last traded at $29.21, with a volume of 65945 shares traded. The stock had previously closed at $31.00.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PRKS. Mizuho reduced their target price on shares of United Parks & Resorts from $28.00 to $27.00 and set an “underperform” rating on the stock in a research note on Monday, March 2nd. Truist Financial raised their price target on shares of United Parks & Resorts from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday. Zacks Research raised shares of United Parks & Resorts from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Guggenheim decreased their price objective on United Parks & Resorts from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Finally, Citigroup cut their target price on United Parks & Resorts from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $47.00.

United Parks & Resorts Stock Down 5.0%

The company has a market cap of $1.43 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 2.16 and a beta of 1.18. The stock’s 50-day simple moving average is $34.86 and its 200 day simple moving average is $39.94.

United Parks & Resorts (NYSE:PRKS) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.18). United Parks & Resorts had a net margin of 10.13% and a negative return on equity of 41.63%. The company had revenue of $373.55 million during the quarter, compared to analysts’ expectations of $375.87 million. During the same period last year, the firm posted $0.50 earnings per share. United Parks & Resorts’s revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts expect that United Parks & Resorts Inc. will post 3.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PRKS. Hsbc Holdings PLC acquired a new stake in shares of United Parks & Resorts in the fourth quarter valued at $1,416,000. Rockefeller Capital Management L.P. raised its holdings in shares of United Parks & Resorts by 183.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company’s stock valued at $31,000 after buying an additional 551 shares during the period. River Road Asset Management LLC lifted its stake in United Parks & Resorts by 3.8% during the 4th quarter. River Road Asset Management LLC now owns 2,056,349 shares of the company’s stock worth $74,645,000 after acquiring an additional 74,392 shares in the last quarter. Invesco Ltd. boosted its holdings in United Parks & Resorts by 28.0% during the 4th quarter. Invesco Ltd. now owns 174,249 shares of the company’s stock valued at $6,325,000 after acquiring an additional 38,120 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new position in United Parks & Resorts during the 4th quarter valued at about $230,000.

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.