Six Flags Entertainment’s (FUN) “Equal Weight” Rating Reaffirmed at Morgan Stanley

Six Flags Entertainment (NYSE:FUN)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Morgan Stanley in a research report issued on Monday,Benzinga reports. They currently have a $20.00 price target on the stock, down from their prior price target of $30.00. Morgan Stanley’s price target suggests a potential upside of 10.71% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Capital One Financial set a $28.00 price target on shares of Six Flags Entertainment in a report on Tuesday, October 7th. UBS Group decreased their target price on shares of Six Flags Entertainment from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of Six Flags Entertainment in a research note on Wednesday, October 8th. The Goldman Sachs Group cut their price objective on Six Flags Entertainment from $30.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Finally, Stifel Nicolaus dropped their target price on Six Flags Entertainment from $50.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $32.43.

Six Flags Entertainment Price Performance

Shares of FUN stock opened at $18.07 on Monday. The business has a fifty day simple moving average of $22.62 and a 200 day simple moving average of $28.16. The company has a market cap of $1.83 billion, a P/E ratio of -3.72 and a beta of 0.69. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 2.97. Six Flags Entertainment has a twelve month low of $17.43 and a twelve month high of $49.77.

Six Flags Entertainment (NYSE:FUN) last released its earnings results on Friday, November 7th. The company reported ($11.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($14.01). The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.34 billion. Six Flags Entertainment had a negative net margin of 14.92% and a negative return on equity of 1.00%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.21 EPS. On average, sell-side analysts forecast that Six Flags Entertainment will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Six Flags Entertainment

A number of large investors have recently bought and sold shares of the stock. Rush Island Management LP bought a new stake in Six Flags Entertainment in the second quarter valued at $115,454,000. Darlington Partners Capital Management LP boosted its position in shares of Six Flags Entertainment by 20.2% during the 2nd quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company’s stock worth $264,741,000 after purchasing an additional 1,460,000 shares in the last quarter. Dendur Capital LP grew its stake in shares of Six Flags Entertainment by 41.1% in the 2nd quarter. Dendur Capital LP now owns 4,433,500 shares of the company’s stock valued at $134,911,000 after buying an additional 1,292,500 shares during the period. Long Pond Capital LP increased its position in Six Flags Entertainment by 55.2% in the 2nd quarter. Long Pond Capital LP now owns 3,296,660 shares of the company’s stock valued at $100,317,000 after buying an additional 1,172,101 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new position in Six Flags Entertainment during the 2nd quarter worth approximately $18,288,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Six Flags Entertainment Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.