JPMorgan Chase & Co. Issues Pessimistic Forecast for United Parks & Resorts (NYSE:PRKS) Stock Price

United Parks & Resorts (NYSE:PRKS) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $60.00 to $52.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 52.56% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group lowered their target price on United Parks & Resorts from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday. Barclays dropped their target price on United Parks & Resorts from $51.00 to $39.00 and set an “equal weight” rating on the stock in a report on Tuesday. Mizuho reduced their target price on United Parks & Resorts from $46.00 to $28.00 and set an “underperform” rating for the company in a report on Wednesday. Citigroup upped their target price on United Parks & Resorts from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Finally, Stifel Nicolaus cut their price target on United Parks & Resorts from $65.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, United Parks & Resorts presently has an average rating of “Hold” and an average price target of $52.09.

United Parks & Resorts Price Performance

Shares of PRKS stock traded down $0.25 during trading hours on Wednesday, hitting $34.09. The company had a trading volume of 367,722 shares, compared to its average volume of 918,157. The company’s fifty day moving average is $50.23 and its 200 day moving average is $48.55. United Parks & Resorts has a fifty-two week low of $33.84 and a fifty-two week high of $60.83. The stock has a market capitalization of $1.88 billion, a PE ratio of 9.11 and a beta of 1.38.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly earnings data on Thursday, November 6th. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.63). The firm had revenue of $511.85 million during the quarter, compared to analysts’ expectations of $540.43 million. United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. United Parks & Resorts’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.08 EPS. Equities analysts forecast that United Parks & Resorts will post 3.95 earnings per share for the current year.

United Parks & Resorts declared that its board has approved a stock buyback plan on Friday, September 5th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its holdings in United Parks & Resorts by 6.6% in the first quarter. Envestnet Asset Management Inc. now owns 56,451 shares of the company’s stock valued at $2,566,000 after purchasing an additional 3,488 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of United Parks & Resorts by 690.9% during the 1st quarter. Allianz Asset Management GmbH now owns 46,662 shares of the company’s stock worth $2,121,000 after buying an additional 40,762 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of United Parks & Resorts by 7.4% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company’s stock worth $205,000 after buying an additional 310 shares during the period. GSA Capital Partners LLP grew its holdings in shares of United Parks & Resorts by 94.4% during the 1st quarter. GSA Capital Partners LLP now owns 43,639 shares of the company’s stock worth $1,984,000 after purchasing an additional 21,195 shares during the period. Finally, XTX Topco Ltd acquired a new position in United Parks & Resorts during the first quarter valued at approximately $630,000.

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.