Stifel Nicolaus Cuts Six Flags Entertainment (NYSE:FUN) Price Target to $29.00

Six Flags Entertainment (NYSE:FUN) had its price objective reduced by analysts at Stifel Nicolaus from $36.00 to $29.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 71.08% from the stock’s current price.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group dropped their price target on Six Flags Entertainment from $30.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Truist Financial cut shares of Six Flags Entertainment from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a report on Wednesday, September 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Six Flags Entertainment in a research report on Wednesday, October 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price target (down from $30.00) on shares of Six Flags Entertainment in a research report on Monday. Finally, Jefferies Financial Group downgraded Six Flags Entertainment from a “buy” rating to a “hold” rating and dropped their price target for the stock from $41.00 to $25.00 in a research note on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.43.

Six Flags Entertainment Stock Down 6.0%

Shares of FUN stock traded down $1.08 during trading hours on Monday, reaching $16.95. The company had a trading volume of 1,241,458 shares, compared to its average volume of 2,782,469. Six Flags Entertainment has a 12 month low of $16.64 and a 12 month high of $49.77. 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 debt-to-equity ratio of 2.97, a current ratio of 0.52 and a quick ratio of 0.42. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -3.50 and a beta of 0.69.

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

Institutional Trading of Six Flags Entertainment

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

About Six Flags Entertainment

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.