Six Flags Entertainment (NYSE:FUN) Stock Gets Price Target Cut from Citizens Jmp

Six Flags Entertainment (NYSE:FUN – Free Report) had its price target cut by Citizens Jmp from $24.00 to $14.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other brokerages have also commented on FUN. Oppenheimer decreased their price objective on Six Flags Entertainment from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Northcoast Research assumed coverage on Six Flags Entertainment in a research note on Wednesday, July 8th. They set a “neutral” rating on the stock. Citigroup dropped their target price on Six Flags Entertainment from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. The Goldman Sachs Group set a $15.00 target price on Six Flags Entertainment in a report on Friday, August 7th. Finally, UBS Group reduced their price target on shares of Six Flags Entertainment from $27.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, October 16th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.62.

View Our Latest Research Report on FUN

Six Flags Entertainment Price Performance

FUN opened at $6.78 on Thursday. The firm has a market capitalization of $694.11 million, a P/E ratio of -0.39 and a beta of 0.45. The stock has a fifty day moving average of $12.71 and a 200-day moving average of $17.28. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 43.34. Six Flags Entertainment has a 12-month low of $6.75 and a 12-month high of $27.37.

Six Flags Entertainment (NYSE:FUN – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.15). The business had revenue of $864.92 million for the quarter, compared to analysts’ expectations of $928.36 million. Six Flags Entertainment had a negative net margin of 57.25% and a positive return on equity of 7.43%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. Equities analysts forecast that Six Flags Entertainment will post -0.91 EPS for the current fiscal year.

Insider Activity

In other news, CEO John Reilly purchased 15,713 shares of Six Flags Entertainment stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average cost of $15.80 per share, for a total transaction of $248,265.40. Following the acquisition, the chief executive officer directly owned 297,736 shares in the company, valued at $4,704,228.80. This represents a 5.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Six Flags Entertainment

A number of hedge funds have recently added to or reduced their stakes in the company. Man Group plc acquired a new stake in Six Flags Entertainment in the second quarter valued at approximately $7,134,000. Legal & General Group Plc acquired a new position in shares of Six Flags Entertainment during the 2nd quarter worth $4,808,000. Lee Danner & Bass Inc. acquired a new position in shares of Six Flags Entertainment during the 1st quarter worth $2,089,000. Bank of America Corp DE acquired a new position in shares of Six Flags Entertainment during the 2nd quarter worth $9,066,000. Finally, BlackRock Inc. bought a new position in shares of Six Flags Entertainment during the 2nd quarter valued at $339,057,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Key Headlines Impacting Six Flags Entertainment

Here are the key news stories impacting Six Flags Entertainment this week:

  • Positive Sentiment: Citizens JMP retained its “market outperform” rating and set a $14 price target, which implies substantial upside from recent levels. However, the target was reduced from $24, signaling a more cautious outlook. Citizens JMP price-target report
  • Neutral Sentiment: Several law firms, including Bleichmar Fonti & Auld, Scott+Scott and Robbins LLP, announced investigations into Six Flags’ officers and directors. The reviews concern possible securities-law violations, fiduciary-duty breaches and statements about park safety, maintenance and ride reliability; no wrongdoing has been established. BFA Law investigation Robbins LLP investigation
  • Negative Sentiment: Mizuho warned of balance-sheet pressure, cash-flow deficits and mounting debt, raising concerns about Six Flags’ liquidity and ability to fund operations and capital spending. Mizuho balance-sheet report
  • Negative Sentiment: Analyst commentary points to an attendance slump and weak sales ahead of earnings, with one analyst seeing roughly 29% downside. The concerns reinforce the risk that results and guidance could disappoint investors. Six Flags earnings and downside analysis
  • Negative Sentiment: The latest coverage also highlights weakening attendance and continued scrutiny of investor Travis Kelce’s stake, adding to uncertainty around the company’s operating recovery and shareholder confidence. Citizens target-cut and attendance report

About Six Flags Entertainment

(Get Free Report)

Six Flags Entertainment Corporation is a regional theme park operator headquartered in Charlotte, North Carolina. The company owns and operates amusement parks, water parks and resort properties, offering roller coasters, family rides, live entertainment, seasonal events, food and beverage, merchandise, and other guest experiences. Its portfolio includes parks operating under the Six Flags, Cedar Fair and affiliated brand names, including Six Flags Great Adventure, Cedar Point, Knott’s Berry Farm and Kings Island.

The company serves guests primarily in the United States, as well as in Canada and Mexico.

Further Reading

Analyst Recommendations for Six Flags Entertainment (NYSE:FUN)

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