Morgan Stanley Issues Positive Forecast for United Parks & Resorts (NYSE:PRKS) Stock Price

United Parks & Resorts (NYSE:PRKS) had its price target hoisted by Morgan Stanley from $50.00 to $52.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus dropped their price objective on shares of United Parks & Resorts from $74.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Truist Financial lowered their target price on shares of United Parks & Resorts from $62.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Barclays assumed coverage on shares of United Parks & Resorts in a research note on Friday, March 14th. They issued an “equal weight” rating and a $50.00 target price on the stock. UBS Group assumed coverage on shares of United Parks & Resorts in a research note on Wednesday, April 9th. They issued a “neutral” rating and a $49.00 target price on the stock. Finally, Macquarie lowered 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, United Parks & Resorts currently has a consensus rating of “Hold” and an average target price of $58.15.

United Parks & Resorts Stock Performance

NYSE:PRKS opened at $49.15 on Tuesday. The firm’s 50-day moving average is $45.41 and its 200-day moving average is $51.55. United Parks & Resorts has a 52-week low of $37.68 and a 52-week high of $60.83. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 12.32 and a beta of 1.51.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.06). United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. The company had revenue of $286.95 million for the quarter, compared to the consensus estimate of $294.28 million. During the same quarter in the previous year, the firm posted ($0.17) EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities analysts predict that United Parks & Resorts will post 3.95 EPS for the current year.

Insider Buying and Selling at United Parks & Resorts

In other United Parks & Resorts news, insider Byron Surrett sold 7,008 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $48.90, for a total value of $342,691.20. Following the transaction, the insider now directly owns 11,050 shares in the company, valued at $540,345. The trade was a 38.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On United Parks & Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRKS. Barclays PLC acquired a new position in United Parks & Resorts in the third quarter valued at about $18,222,000. Perpetual Ltd boosted its position in United Parks & Resorts by 37.8% in the fourth quarter. Perpetual Ltd now owns 459,150 shares of the company’s stock valued at $25,800,000 after buying an additional 125,912 shares in the last quarter. SG Americas Securities LLC boosted its position in United Parks & Resorts by 894.2% in the fourth quarter. SG Americas Securities LLC now owns 145,250 shares of the company’s stock valued at $8,162,000 after buying an additional 130,640 shares in the last quarter. KBC Group NV boosted its position in United Parks & Resorts by 60.2% in the fourth quarter. KBC Group NV now owns 1,698 shares of the company’s stock valued at $95,000 after buying an additional 638 shares in the last quarter. Finally, R Squared Ltd acquired a new position in United Parks & Resorts in the fourth quarter valued at about $72,000.

United Parks & Resorts Company Profile

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.