Truist Financial Forecasts Strong Price Appreciation for United Parks & Resorts (NYSE:PRKS) Stock

United Parks & Resorts (NYSE:PRKS) had its price objective lifted by equities researchers at Truist Financial from $60.00 to $64.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 12.74% from the company’s previous close.

A number of other brokerages have also recently commented on PRKS. The Goldman Sachs Group cut United Parks & Resorts from a “buy” rating to a “neutral” rating and lowered their target price for the company from $63.00 to $53.00 in a report on Thursday, August 8th. Stifel Nicolaus decreased their price target 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. Mizuho cut their price objective on shares of United Parks & Resorts from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Monday, October 28th. JPMorgan Chase & Co. decreased 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 report on Monday, September 16th. Finally, Citigroup increased their price target on United Parks & Resorts from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.90.

United Parks & Resorts Trading Up 3.2 %

United Parks & Resorts stock opened at $56.77 on Friday. The stock has a market cap of $3.29 billion, a P/E ratio of 14.23 and a beta of 2.00. The company has a fifty day simple moving average of $51.78 and a 200-day simple moving average of $51.72. United Parks & Resorts has a 12-month low of $44.72 and a 12-month high of $60.36.

United Parks & Resorts (NYSE:PRKS) last issued its earnings results on Thursday, November 7th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.15). The company had revenue of $545.90 million during the quarter, compared to analyst estimates of $550.47 million. United Parks & Resorts had a net margin of 14.06% and a negative return on equity of 92.07%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.92 EPS. As a group, sell-side analysts forecast that United Parks & Resorts will post 4.23 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Yoshikazu Maruyama sold 12,984 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $50.07, for a total value of $650,108.88. Following the transaction, the director now directly owns 41,766 shares of the company’s stock, valued at approximately $2,091,223.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jayson Maxwell sold 545 shares of the company’s 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 completion of the sale, the insider now owns 722 shares in the company, valued at approximately $35,695.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Yoshikazu Maruyama sold 12,984 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $50.07, for a total transaction of $650,108.88. Following the transaction, the director now directly owns 41,766 shares of the company’s stock, valued at approximately $2,091,223.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,366 shares of company stock worth $1,938,984 over the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Trading of United Parks & Resorts

Hedge funds have recently bought and sold shares of the stock. Hexagon Capital Partners LLC acquired a new position in shares of United Parks & Resorts in the 3rd quarter valued at $25,000. Exchange Traded Concepts LLC acquired a new stake in United Parks & Resorts in the 3rd quarter valued at $28,000. Blue Trust Inc. acquired a new stake in shares of United Parks & Resorts in the 3rd quarter valued at $30,000. KBC Group NV acquired a new stake in shares of United Parks & Resorts during the 3rd quarter worth about $54,000. Finally, Amalgamated Bank bought a new position in United Parks & Resorts during the 3rd quarter valued at about $65,000.

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.