United Parks & Resorts (NYSE:PRKS) Reaches New 12-Month High – Time to Buy?

United Parks & Resorts Inc. (NYSE:PRKS)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $60.54 and last traded at $59.85, with a volume of 157238 shares. The stock had previously closed at $58.64.

Analysts Set New Price Targets

PRKS has been the topic of several analyst reports. Mizuho reiterated an “underperform” rating and issued a $43.00 target price (down from $45.00) on shares of United Parks & Resorts in a report on Friday, November 8th. Macquarie decreased 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 report on Friday, October 18th. JPMorgan Chase & Co. lowered their target price on shares of 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. B. Riley reiterated a “buy” rating and set a $71.00 price target on shares of United Parks & Resorts in a report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.60.

United Parks & Resorts Stock Performance

The business has a 50 day moving average of $53.96 and a two-hundred day moving average of $52.44. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 14.83 and a beta of 2.00.

United Parks & Resorts (NYSE:PRKS) last issued its earnings results on Thursday, November 7th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). The firm had revenue of $545.90 million for the quarter, compared to analyst estimates of $550.47 million. United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. United Parks & Resorts’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.92 earnings per share. On average, equities analysts predict that United Parks & Resorts Inc. will post 3.97 EPS for the current fiscal year.

Insider Activity

In other United Parks & Resorts news, insider George Anthony Taylor sold 23,837 shares of the stock in a transaction dated 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 sale, the insider now owns 85,463 shares in the company, valued at approximately $4,524,411.22. This trade represents a 21.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James Mikolaichik purchased 34,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average cost of $57.29 per share, with a total value of $1,947,860.00. Following the completion of the transaction, the insider now directly owns 76,267 shares of the company’s stock, valued at $4,369,336.43. The trade was a 80.44 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On United Parks & Resorts

Institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC bought a new stake in shares of United Parks & Resorts in the third quarter valued at $25,000. Exchange Traded Concepts LLC bought a new position in United Parks & Resorts during the third quarter worth about $28,000. Blue Trust Inc. purchased a new position in shares of United Parks & Resorts in the third quarter worth about $30,000. Public Employees Retirement System of Ohio bought a new stake in shares of United Parks & Resorts in the third quarter valued at approximately $32,000. Finally, KBC Group NV purchased a new stake in shares of United Parks & Resorts during the 3rd quarter valued at approximately $54,000.

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.