Truist Financial Lowers United Parks & Resorts (NYSE:PRKS) Price Target to $60.00

United Parks & Resorts (NYSE:PRKS) had its price target cut by research analysts at Truist Financial from $62.00 to $60.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 13.57% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group cut shares of United Parks & Resorts from a “buy” rating to a “neutral” rating and cut their price target for the company from $63.00 to $53.00 in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price 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. JPMorgan Chase & Co. lowered their target price on United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, September 16th. B. Riley restated a “buy” rating and set a $71.00 price target on shares of United Parks & Resorts in a report on Monday, October 7th. Finally, Citigroup lifted their price objective on shares of United Parks & Resorts from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, United Parks & Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

United Parks & Resorts Price Performance

Shares of PRKS opened at $52.83 on Monday. The business has a 50-day moving average of $50.45 and a 200-day moving average of $51.70. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 13.79 and a beta of 2.01. 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 released its quarterly earnings results 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). United Parks & Resorts had a negative return on equity of 92.07% and a net margin of 14.06%. The firm had revenue of $497.60 million for the quarter, compared to the consensus estimate of $503.93 million. During the same quarter in the previous year, the business posted $1.35 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Parks & Resorts will post 4.35 EPS for the current year.

Insider Buying and Selling at United Parks & Resorts

In related news, insider Jayson Maxwell sold 545 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were 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 in the company, valued at $35,695.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other United Parks & Resorts news, insider Jayson Maxwell sold 545 shares of United Parks & Resorts 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 transaction, the insider now directly owns 722 shares of the company’s stock, valued at $35,695.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider George Anthony Taylor sold 23,837 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $52.94, for a total transaction of $1,261,930.78. Following the completion of the sale, the insider now owns 85,463 shares of the company’s stock, valued at approximately $4,524,411.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,366 shares of company stock valued at $1,938,984. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On United Parks & Resorts

Hedge funds have recently modified their holdings of the company. Perpetual Ltd purchased a new stake in shares of United Parks & Resorts during the third quarter valued at approximately $16,862,000. SG Americas Securities LLC bought a new position in United Parks & Resorts in the 3rd quarter valued at $739,000. Inspire Investing LLC bought a new position in United Parks & Resorts in the 3rd quarter valued at $411,000. nVerses Capital LLC purchased a new stake in shares of United Parks & Resorts during the 3rd quarter valued at $304,000. Finally, Handelsbanken Fonder AB bought a new stake in shares of United Parks & Resorts during the 3rd quarter worth $390,000.

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.