Mizuho Cuts Six Flags Entertainment (NYSE:FUN) Price Target to $36.00

Six Flags Entertainment (NYSE:FUN) had its target price cut by stock analysts at Mizuho from $43.00 to $36.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 22.50% from the company’s current price.

Several other analysts also recently commented on FUN. Stifel Nicolaus upped their price target on shares of Six Flags Entertainment from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, May 21st. UBS Group decreased their price target on shares of Six Flags Entertainment from $49.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday. Barclays cut their price target on shares of Six Flags Entertainment from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, July 11th. JPMorgan Chase & Co. dropped their price objective on shares of Six Flags Entertainment from $46.00 to $28.00 and set an “underweight” rating on the stock in a research note on Thursday, April 17th. Finally, Jefferies Financial Group lowered their target price on shares of Six Flags Entertainment from $58.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.13.

Six Flags Entertainment Stock Performance

FUN opened at $29.39 on Friday. The firm has a market capitalization of $2.97 billion, a PE ratio of -10.57 and a beta of 0.76. Six Flags Entertainment has a twelve month low of $27.07 and a twelve month high of $52.00. The firm’s 50-day moving average price is $32.50 and its 200 day moving average price is $37.37. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 2.75.

Six Flags Entertainment (NYSE:FUN) last released its quarterly earnings results on Thursday, May 8th. The company reported ($2.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.29) by $0.09. Six Flags Entertainment had a negative net margin of 11.30% and a positive return on equity of 0.66%. The business had revenue of $202.06 million for the quarter, compared to the consensus estimate of $235.51 million. Six Flags Entertainment’s revenue for the quarter was up 98.9% compared to the same quarter last year. As a group, sell-side analysts expect that Six Flags Entertainment will post 0.83 EPS for the current fiscal year.

Insider Activity at Six Flags Entertainment

In related news, Director Michelle M. Frymire sold 5,929 shares of Six Flags Entertainment stock in a transaction on Monday, May 12th. The stock was sold at an average price of $37.89, for a total transaction of $224,649.81. Following the transaction, the director directly owned 7,162 shares in the company, valued at approximately $271,368.18. The trade was a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wedge Capital Management L L P NC raised its stake in Six Flags Entertainment by 0.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company’s stock worth $1,198,000 after acquiring an additional 335 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Six Flags Entertainment by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company’s stock worth $287,000 after buying an additional 484 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Six Flags Entertainment by 96.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,800 shares of the company’s stock worth $55,000 after buying an additional 884 shares during the last quarter. ORG Wealth Partners LLC lifted its stake in Six Flags Entertainment by 45.8% in the 2nd quarter. ORG Wealth Partners LLC now owns 3,188 shares of the company’s stock worth $102,000 after purchasing an additional 1,002 shares in the last quarter. Finally, Contravisory Investment Management Inc. lifted its stake in Six Flags Entertainment by 42.5% in the 2nd quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company’s stock worth $175,000 after purchasing an additional 1,717 shares in the last quarter. Institutional investors own 64.65% of the company’s stock.

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.