United Parks & Resorts (NYSE:PRKS) PT Lowered to $70.00 at Macquarie

United Parks & Resorts (NYSE:PRKS) had its price objective lowered by Macquarie from $75.00 to $70.00 in a research report released on Friday, Benzinga reports. Macquarie currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the company. Citigroup raised their price target on United Parks & Resorts from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft decreased their price target on United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus decreased their price target on United Parks & Resorts from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, The Goldman Sachs Group downgraded 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, United Parks & Resorts presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

United Parks & Resorts Stock Performance

NYSE:PRKS opened at $52.76 on Friday. The company has a market cap of $3.06 billion, a PE ratio of 13.78 and a beta of 2.01. United Parks & Resorts has a 52-week low of $40.87 and a 52-week high of $60.36. The stock has a 50-day simple moving average of $50.34 and a 200 day simple moving average of $51.72.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.08). The company had revenue of $497.60 million during the quarter, compared to the consensus estimate of $503.93 million. United Parks & Resorts had a net margin of 14.06% and a negative return on equity of 92.07%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.35 earnings per share. On average, research analysts predict that United Parks & Resorts will post 4.35 earnings per share for the current fiscal year.

Insider Transactions at United Parks & Resorts

In related news, insider Jayson Maxwell sold 545 shares of United Parks & Resorts stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Yoshikazu Maruyama sold 12,984 shares of United Parks & Resorts stock in a transaction that occurred 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 completion of the sale, the director now directly owns 41,766 shares of the company’s stock, valued at approximately $2,091,223.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jayson Maxwell sold 545 shares of United Parks & Resorts 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 directly owns 722 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 37,366 shares of company stock worth $1,938,984. 1.10% of the stock is owned by company insiders.

Institutional Trading of United Parks & Resorts

Hedge funds have recently added to or reduced their stakes in the company. Perpetual Ltd acquired a new position in United Parks & Resorts in the 3rd quarter valued at $16,862,000. Raymond James & Associates acquired a new position in United Parks & Resorts in the 3rd quarter valued at $4,487,000. SG Americas Securities LLC acquired a new position in United Parks & Resorts in the 3rd quarter valued at $739,000. Inspire Investing LLC acquired a new position in United Parks & Resorts in the 3rd quarter valued at $411,000. Finally, Handelsbanken Fonder AB acquired a new position in United Parks & Resorts in the 3rd quarter valued at $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.