Six Flags Entertainment (NYSE:FUN) Stock Gets Price Target Reduction from Barclays

Six Flags Entertainment (NYSE:FUN) had its price target dropped by investment analysts at Barclays from $22.00 to $13.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 29.17% from the stock’s previous close.

FUN has been the subject of a number of other research reports. Oppenheimer dropped their price objective on shares of Six Flags Entertainment from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of Six Flags Entertainment from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Mizuho set a $5.00 price target on shares of Six Flags Entertainment in a research report on Wednesday, October 21st. Zacks Research upgraded shares of Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Finally, Wall Street Zen downgraded shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Seven 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 stock has an average rating of “Hold” and a consensus price target of $15.85.

Six Flags Entertainment Trading Up 8.9%

NYSE FUN traded up $0.82 during trading on Friday, hitting $10.06. The stock had a trading volume of 3,645,808 shares, compared to its average volume of 2,663,524. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 43.34. The company has a market capitalization of $1.03 billion, a PE ratio of -0.58 and a beta of 0.50. The firm has a 50 day moving average price of $11.16 and a 200 day moving average price of $16.76. Six Flags Entertainment has a twelve month low of $6.60 and a twelve month high of $26.28.

Six Flags Entertainment (NYSE:FUN) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($3.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($5.52). Six Flags Entertainment had a positive return on equity of 7.43% and a negative net margin of 57.25%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company posted ($2.20) EPS. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, equities research analysts forecast that Six Flags Entertainment will post -0.91 earnings per share for the current year.

Insider Activity

In other news, CEO John Reilly acquired 15,713 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average cost of $15.80 per share, with a total value of $248,265.40. Following the transaction, the chief executive officer owned 297,736 shares in the company, valued at approximately $4,704,228.80. This trade represents a 5.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Six Flags Entertainment

Large investors have recently bought and sold shares of the business. Man Group plc acquired a new stake in Six Flags Entertainment in the second quarter valued at $7,134,000. Legal & General Group Plc purchased a new stake in Six Flags Entertainment during the 2nd quarter worth about $4,808,000. Bank of America Corp DE acquired a new position in shares of Six Flags Entertainment during the 2nd quarter worth about $9,066,000. BlackRock Inc. acquired a new position in shares of Six Flags Entertainment during the 2nd quarter worth about $339,057,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Six Flags Entertainment during the 2nd quarter worth about $11,975,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Key Six Flags Entertainment News

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

• Positive Sentiment: Long-term indicators were encouraging: Six Flags’ active pass base grew 7% year over year, and free cash flow for the first nine months improved by $300 million. Article: Six Flags: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Third-quarter revenue of $1.17 billion topped estimates, and the reported loss narrowed substantially from the year-earlier quarter. These results helped support a “better-than-feared” reaction, despite the quarter’s other setbacks. Article: Six Flags rallies after posting better-than-feared results
• Negative Sentiment: Profitability was much weaker than analysts expected: Six Flags reported a loss of $3.59 per share versus consensus expectations for earnings of $1.93. Revenue was also down 11% year over year, and the company cut its profit outlook after October setbacks. Article: Six Flags narrows losses, but October’s double blow forces profit outlook cut
• Negative Sentiment: Reports linked an attendance dip to a fatal Georgia roller-coaster incident; Six Flags has also launched a ride-safety review. The incident could weigh on visitor demand and add scrutiny. Article: Six Flags loses nearly $400 million, reveals attendance dip after deadly Georgia roller coaster incident
• Negative Sentiment: Two law firms announced investigations into potential securities claims following the stock’s significant decline. These are investigations, not findings of wrongdoing, but add legal and headline risk. Article: FUN Investigation Reminder

Six Flags Entertainment Company Profile

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.