United Parks & Resorts (NYSE:PRKS) Cut to “Neutral” at The Goldman Sachs Group

The Goldman Sachs Group cut shares of United Parks & Resorts (NYSE:PRKS) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning, Marketbeat.com reports. They currently have $53.00 target price on the stock, down from their prior target price of $63.00.

Several other research analysts also recently weighed in on PRKS. Truist Financial upped their target price on United Parks & Resorts from $58.00 to $68.00 and gave the stock a buy rating in a research note on Wednesday, July 17th. Citigroup increased their price objective on shares of United Parks & Resorts from $55.00 to $59.00 and gave the company a neutral rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of United Parks & Resorts from $79.00 to $76.00 and set a buy rating for the company in a research note on Tuesday, July 30th. B. Riley raised their price target on shares of United Parks & Resorts from $75.00 to $84.00 and gave the company a buy rating in a research note on Monday, July 1st. Finally, Mizuho boosted their price objective on United Parks & Resorts from $47.00 to $48.00 and gave the stock an underperform rating in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $65.90.

United Parks & Resorts Stock Performance

PRKS stock traded up $0.33 during midday trading on Thursday, hitting $47.34. 1,003,625 shares of the stock traded hands, compared to its average volume of 1,199,505. United Parks & Resorts has a 1-year low of $40.87 and a 1-year high of $60.36. The company’s fifty day moving average is $52.80. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 12.73 and a beta of 2.02.

United Parks & Resorts (NYSE:PRKS) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.08). The business had revenue of $497.60 million during the quarter, compared to analysts’ expectations of $503.93 million. United Parks & Resorts had a net margin of 13.84% and a negative return on equity of 88.59%. United Parks & Resorts’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.35 EPS. Sell-side analysts anticipate that United Parks & Resorts will post 4.36 EPS for the current year.

Insider Transactions at United Parks & Resorts

In related news, insider Christopher Dold sold 32,518 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $51.54, for a total value of $1,675,977.72. Following the completion of the sale, the insider now owns 33,242 shares of the company’s stock, valued at $1,713,292.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

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.