Six Flags Entertainment Corporation (NYSE:FUN) Receives Average Rating of “Moderate Buy” from Brokerages

Six Flags Entertainment Corporation (NYSE:FUN) has been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $39.7857.

Several equities research analysts have issued reports on FUN shares. Stifel Nicolaus dropped their price objective on Six Flags Entertainment from $50.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, July 18th. UBS Group dropped their price objective on Six Flags Entertainment from $49.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, July 15th. JPMorgan Chase & Co. dropped their price objective on Six Flags Entertainment from $46.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, April 17th. Barclays dropped their price objective on Six Flags Entertainment from $40.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Finally, Truist Financial dropped their price objective on Six Flags Entertainment from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 14th.

Institutional Trading of Six Flags Entertainment

Several large investors have recently made changes to their positions in FUN. Peregrine Capital Management LLC lifted its position in shares of Six Flags Entertainment by 7.5% in the 1st quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company’s stock worth $4,691,000 after acquiring an additional 9,231 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of 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 acquiring an additional 484 shares during the period. DAVENPORT & Co LLC lifted its position in shares of Six Flags Entertainment by 14.0% in the 2nd quarter. DAVENPORT & Co LLC now owns 664,853 shares of the company’s stock worth $20,231,000 after acquiring an additional 81,418 shares during the period. Knights of Columbus Asset Advisors LLC lifted its position in shares of Six Flags Entertainment by 16.1% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 60,769 shares of the company’s stock worth $1,849,000 after acquiring an additional 8,443 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in shares of Six Flags Entertainment by 8.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 55,925 shares of the company’s stock worth $1,701,000 after acquiring an additional 4,251 shares during the period. Institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Stock Up 3.0%

Shares of NYSE:FUN opened at $24.50 on Thursday. The stock’s 50-day moving average price is $30.43 and its two-hundred day moving average price is $35.25. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 2.97. Six Flags Entertainment has a 12-month low of $21.44 and a 12-month high of $49.77. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -5.05 and a beta of 0.82.

Six Flags Entertainment (NYSE:FUN) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.53). The company had revenue of $930.39 million for the quarter, compared to analyst estimates of $999.82 million. Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%. Six Flags Entertainment’s revenue was up 62.8% on a year-over-year basis. On average, research analysts forecast that Six Flags Entertainment will post 0.83 EPS for the current year.

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.