Citigroup Raises United Parks & Resorts (NYSE:PRKS) Price Target to $55.00

United Parks & Resorts (NYSE:PRKS) had its price target increased by stock analysts at Citigroup from $50.00 to $55.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 7.09% from the stock’s previous close.

A number of other equities analysts also recently commented on PRKS. Stifel Nicolaus reduced their target price on shares of United Parks & Resorts from $76.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. B. Riley lifted their target price on shares of United Parks & Resorts from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. The Goldman Sachs Group downgraded shares of United Parks & Resorts from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $63.00 to $53.00 in a research note on Thursday, August 8th. Truist Financial reduced their target price on shares of United Parks & Resorts from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

United Parks & Resorts Price Performance

PRKS stock traded up $0.08 during midday trading on Wednesday, hitting $51.36. 212,432 shares of the stock traded hands, compared to its average volume of 907,898. The firm has a market cap of $3.21 billion, a P/E ratio of 13.79 and a beta of 2.01. The stock’s fifty day simple moving average is $51.40 and its 200-day simple moving average is $52.16. United Parks & Resorts has a 1-year low of $40.87 and a 1-year high of $60.36.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.08). The company had revenue of $497.60 million for the quarter, compared to analysts’ expectations of $503.93 million. United Parks & Resorts had a net margin of 14.06% and a negative return on equity of 92.07%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $1.35 earnings per share. On average, research analysts predict that United Parks & Resorts will post 4.36 earnings per share for the current year.

Insider Buying and Selling

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

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.