United Parks & Resorts (NYSE:PRKS) Given New $34.00 Price Target at Citigroup

United Parks & Resorts (NYSE:PRKS) had its price objective reduced by investment analysts at Citigroup from $49.00 to $34.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 5.74% from the stock’s current price.

A number of other equities research analysts also recently issued reports on PRKS. Weiss Ratings raised United Parks & Resorts from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. UBS Group reaffirmed a “neutral” rating and issued a $45.00 target price on shares of United Parks & Resorts in a report on Monday, June 15th. JPMorgan Chase & Co. boosted their price target on United Parks & Resorts from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Zacks Research downgraded United Parks & Resorts from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Finally, Citizens Jmp began coverage on United Parks & Resorts in a research note on Monday, June 29th. They issued a “market perform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.40.

United Parks & Resorts Stock Down 1.9%

Shares of PRKS stock traded down $0.62 during trading on Thursday, reaching $32.15. 607,553 shares of the company’s stock were exchanged, compared to its average volume of 940,664. United Parks & Resorts has a twelve month low of $28.77 and a twelve month high of $54.68. The firm’s fifty day moving average price is $39.68 and its 200-day moving average price is $39.86. The stock has a market capitalization of $1.46 billion, a PE ratio of 12.66, a PEG ratio of 3.18 and a beta of 1.25.

United Parks & Resorts (NYSE:PRKS) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $483.32 million for the quarter, compared to the consensus estimate of $492.10 million. During the same period last year, the firm earned $1.45 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts anticipate that United Parks & Resorts will post 2.85 EPS for the current fiscal year.

Insider Activity

In related news, insider Christopher Finazzo sold 6,622 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was 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 $5,465,904.60. This represents a 5.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Forrester, Jr. sold 1,150 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $35.71, for a total value of $41,066.50. Following the completion of the transaction, the insider directly owned 26,733 shares in the company, valued at approximately $954,635.43. This trade represents a 4.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On United Parks & Resorts

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of United Parks & Resorts during the second quarter valued at about $171,560,000. River Road Asset Management LLC increased its position in United Parks & Resorts by 3.8% in the 4th quarter. River Road Asset Management LLC now owns 2,056,349 shares of the company’s stock valued at $74,645,000 after buying an additional 74,392 shares in the last quarter. Hawk Ridge Capital Management LP acquired a new position in United Parks & Resorts during the 1st quarter worth approximately $51,094,000. Engine Capital Management LP boosted its holdings in United Parks & Resorts by 20.8% in the first quarter. Engine Capital Management LP now owns 1,034,414 shares of the company’s stock worth $33,784,000 after acquiring an additional 178,017 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in United Parks & Resorts in the second quarter valued at approximately $26,222,000.

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.