United Parks & Resorts (NYSE:PRKS) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of United Parks & Resorts (NYSE:PRKS) from a hold rating to a strong sell rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $40.00 price objective (down from $43.00) on shares of United Parks & Resorts in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft set a $55.00 target price on United Parks & Resorts in a research note on Thursday, August 6th. Northcoast Research started coverage on United Parks & Resorts in a report on Wednesday, July 8th. They issued a “neutral” rating for the company. Guggenheim raised their price target on United Parks & Resorts from $51.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Citigroup lifted their price target on United Parks & Resorts from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $47.30.

United Parks & Resorts Stock Up 0.3%

Shares of NYSE:PRKS opened at $44.16 on Monday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 3.84 and a beta of 1.16. The firm’s 50-day simple moving average is $45.58 and its 200-day simple moving average is $38.85. United Parks & Resorts has a fifty-two week low of $28.77 and a fifty-two week high of $56.95.

United Parks & Resorts (NYSE:PRKS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.33). The firm had revenue of $483.32 million for the quarter, compared to analyst estimates of $492.10 million. United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%.The company’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.45 earnings per share. On average, research analysts forecast that United Parks & Resorts will post 3.07 EPS for the current year.

Insider Activity at United Parks & Resorts

In related news, insider Christopher L. Finazzo sold 6,622 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $44.20, for a total value of $292,692.40. Following the completion of the sale, the insider owned 123,663 shares in the company, valued at $5,465,904.60. This trade represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PRKS. Nomura Holdings Inc. boosted its stake in shares of United Parks & Resorts by 742.3% during the 3rd quarter. Nomura Holdings Inc. now owns 4,476,357 shares of the company’s stock worth $231,428,000 after acquiring an additional 3,944,894 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of United Parks & Resorts in the 2nd quarter worth approximately $171,560,000. Hawk Ridge Capital Management LP purchased a new position in United Parks & Resorts in the 1st quarter valued at approximately $51,094,000. Goldentree Asset Management LP increased its stake in United Parks & Resorts by 83.5% in the 4th quarter. Goldentree Asset Management LP now owns 2,438,437 shares of the company’s stock valued at $88,366,000 after purchasing an additional 1,109,930 shares in the last quarter. Finally, Long Pond Capital LP acquired a new position in United Parks & Resorts during the fourth quarter worth $31,036,000.

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.