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

United Parks & Resorts (NYSE:PRKS) had its price target reduced by Guggenheim from $72.00 to $70.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the stock. Macquarie lowered their price objective on shares of United Parks & Resorts from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Stifel Nicolaus decreased their target price on shares of United Parks & Resorts from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price target on United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Truist Financial raised their price objective on United Parks & Resorts from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.60.

United Parks & Resorts Trading Up 0.2 %

Shares of NYSE:PRKS opened at $56.87 on Tuesday. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 14.25 and a beta of 2.00. United Parks & Resorts has a 12 month low of $44.72 and a 12 month high of $60.36. The firm’s 50-day moving average is $52.06 and its 200 day moving average is $51.80.

United Parks & Resorts (NYSE:PRKS) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. The business had revenue of $545.90 million for the quarter, compared to the consensus estimate of $550.47 million. During the same period in the prior year, the business posted $1.92 earnings per share. United Parks & Resorts’s revenue was down .4% on a year-over-year basis. As a group, equities analysts forecast that United Parks & Resorts will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling

In other United Parks & Resorts news, insider Jayson Maxwell sold 545 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $49.44, for a total transaction of $26,944.80. Following the sale, the insider now directly owns 722 shares of the company’s stock, valued at approximately $35,695.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider George Anthony Taylor sold 23,837 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $52.94, for a total value of $1,261,930.78. Following the transaction, the insider now owns 85,463 shares in the company, valued at $4,524,411.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jayson Maxwell sold 545 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $49.44, for a total value of $26,944.80. Following the sale, the insider now owns 722 shares of the company’s stock, valued at $35,695.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,366 shares of company stock valued at $1,938,984 over the last 90 days. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On United Parks & Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. River Road Asset Management LLC purchased a new position in shares of United Parks & Resorts in the third quarter worth about $66,841,000. Perpetual Ltd purchased a new position in United Parks & Resorts in the 3rd quarter worth approximately $16,862,000. SG Americas Securities LLC acquired a new position in shares of United Parks & Resorts during the 3rd quarter worth approximately $739,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of United Parks & Resorts in the third quarter valued at about $27,850,000. Finally, Inspire Investing LLC purchased a new position in shares of United Parks & Resorts during the third quarter worth $411,000.

About United Parks & Resorts

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.