United Parks & Resorts (NYSE:PRKS) Downgraded by Zacks Research to Strong Sell

United Parks & Resorts (NYSE:PRKS) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also issued reports on PRKS. Truist Financial increased their target price on shares of United Parks & Resorts from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. JPMorgan Chase & Co. decreased their target price on United Parks & Resorts from $60.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of United Parks & Resorts in a report on Wednesday, November 5th. Guggenheim reduced their price target on United Parks & Resorts from $74.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Finally, Stifel Nicolaus cut their target price on shares of United Parks & Resorts from $65.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, United Parks & Resorts currently has a consensus rating of “Hold” and an average target price of $52.09.

United Parks & Resorts Trading Down 1.9%

PRKS stock opened at $33.67 on Tuesday. The business’s fifty day moving average price is $49.82 and its 200 day moving average price is $48.45. United Parks & Resorts has a 12-month low of $33.56 and a 12-month high of $60.83. The company has a market capitalization of $1.85 billion, a PE ratio of 9.00 and a beta of 1.38.

United Parks & Resorts (NYSE:PRKS) last issued its quarterly earnings results on Thursday, November 6th. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.63). The business had revenue of $511.85 million for the quarter, compared to analysts’ expectations of $540.43 million. United Parks & Resorts had a negative return on equity of 47.59% and a net margin of 12.39%.The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the company earned $2.08 earnings per share. Research analysts predict that United Parks & Resorts will post 3.95 EPS for the current fiscal year.

United Parks & Resorts announced that its Board of Directors has authorized a share buyback plan on Friday, September 5th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On United Parks & Resorts

A number of institutional investors have recently modified their holdings of PRKS. Hawk Ridge Capital Management LP raised its stake in United Parks & Resorts by 21.9% during the 1st quarter. Hawk Ridge Capital Management LP now owns 1,740,768 shares of the company’s stock valued at $79,135,000 after acquiring an additional 312,970 shares during the last quarter. Maverick Capital Ltd. increased its holdings in shares of 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 purchasing an additional 48,935 shares during the period. Comerica Bank raised its stake 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 worth $1,021,000 after purchasing an additional 13,772 shares during the last quarter. Interval Partners LP acquired a new stake in shares of United Parks & Resorts during the first quarter worth $1,424,000. Finally, Invesco Ltd. lifted its holdings in shares of United Parks & Resorts by 31.0% during the first quarter. Invesco Ltd. now owns 73,148 shares of the company’s stock worth $3,325,000 after purchasing an additional 17,291 shares during the period.

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.