Truist Financial Issues Pessimistic Forecast for United Parks & Resorts (NYSE:PRKS) Stock Price

United Parks & Resorts (NYSE:PRKS) had its price target lowered by research analysts at Truist Financial from $64.00 to $62.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 21.61% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Macquarie reduced their target price on shares of United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Mizuho raised their price objective on shares of United Parks & Resorts from $43.00 to $45.00 and gave the stock an “underperform” rating in a research note on Thursday, February 27th. Barclays began coverage on United Parks & Resorts in a research note on Friday, March 14th. They set an “equal weight” rating and a $50.00 target price on the stock. Finally, Guggenheim raised their price target on United Parks & Resorts from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.18.

United Parks & Resorts Stock Performance

NYSE:PRKS opened at $50.98 on Tuesday. The firm has a market capitalization of $2.81 billion, a PE ratio of 12.78 and a beta of 1.96. The stock’s fifty day moving average is $51.42 and its 200 day moving average is $53.32. United Parks & Resorts has a fifty-two week low of $44.72 and a fifty-two week high of $60.83.

Insider Activity at United Parks & Resorts

In related news, insider Byron Surrett sold 7,008 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $48.90, for a total transaction of $342,691.20. Following the completion of the sale, the insider now directly owns 11,050 shares in the company, valued at $540,345. This represents a 38.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On United Parks & Resorts

Large investors have recently modified their holdings of the business. Hill Path Capital LP acquired a new stake in United Parks & Resorts in the 3rd quarter worth approximately $1,376,588,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of United Parks & Resorts by 15.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,548,403 shares of the company’s stock valued at $255,575,000 after buying an additional 599,043 shares during the last quarter. Simcoe Capital Management LLC purchased a new stake in shares of United Parks & Resorts during the third quarter valued at $110,983,000. River Road Asset Management LLC increased its position in shares of United Parks & Resorts by 34.1% in the 4th quarter. River Road Asset Management LLC now owns 1,771,636 shares of the company’s stock valued at $99,548,000 after acquiring an additional 450,670 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in United Parks & Resorts by 1.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,452,380 shares of the company’s stock worth $81,609,000 after acquiring an additional 19,012 shares during the last quarter.

About United Parks & Resorts

United Parks & Resorts, Inc is a holding company, which engages in the ownership and operation of theme parks. Its portfolio includes SeaWorld, Busch Gardens, Aquatica, Discovery Cove, Sesame Place, and Sea Rescue. The company was founded in 1959 and is headquartered in Orlando, FL.