Barclays Lowers Six Flags Entertainment (NYSE:FUN) Price Target to $27.00

Key Points

• Barclays has lowered the price target for Six Flags Entertainment (NYSE:FUN) from $40.00 to $27.00, while maintaining an "overweight" rating for the stock, which suggests a potential upside of 10.18% from its previous close.
• Multiple brokerages have revised their price targets for Six Flags, with UBS setting a target of $40.00, Mizuho lowering it to $30.00, and Citigroup reducing it to $37.00, contributing to a mixed rating landscape with 12 buy ratings and two sell ratings.
• Six Flags reported a missed earnings projection for the latest quarter, with earnings per share of $0.26 compared to a consensus estimate of $0.79, as revenue also fell short of expectations at $930.39 million.

Six Flags Entertainment (NYSE:FUN - Free Report) had its price target lowered by Barclays from $40.00 to $27.00 in a research report sent to investors on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the stock. Mizuho dropped their target price on shares of Six Flags Entertainment from $36.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday. Wall Street Zen cut shares of Six Flags Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Morgan Stanley dropped their price objective on shares of Six Flags Entertainment from $47.00 to $43.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Jefferies Financial Group cut shares of Six Flags Entertainment from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $41.00 to $25.00 in a research note on Thursday. Finally, Stifel Nicolaus dropped their price target on Six Flags Entertainment from $50.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.47.

Six Flags Entertainment Price Performance

NYSE FUN traded down $1.28 during mid-day trading on Thursday, hitting $23.88. The stock had a trading volume of 5,591,407 shares, compared to its average volume of 4,198,792. Six Flags Entertainment has a 52-week low of $21.44 and a 52-week high of $49.77. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -4.92 and a beta of 0.82. The company has a 50 day simple moving average of $30.60 and a 200 day simple moving average of $35.52. The company has a quick ratio of 0.28, a current ratio of 0.52 and a debt-to-equity ratio of 2.97.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.53). Six Flags Entertainment had a negative net margin of 14.92% and a negative return on equity of 1.00%. The firm had revenue of $930.39 million during the quarter, compared to analysts' expectations of $999.82 million. The business's quarterly revenue was up 62.8% compared to the same quarter last year. Equities analysts forecast that Six Flags Entertainment will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling

In other 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 value of $224,649.81. Following the completion of the sale, the director owned 7,162 shares of the company's stock, valued at $271,368.18. The trade was a 45.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Six Flags Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP grew its holdings in Six Flags Entertainment by 1,179.0% in the 2nd quarter. Allworth Financial LP now owns 1,522 shares of the company's stock valued at $46,000 after buying an additional 1,403 shares during the period. GAMMA Investing LLC grew 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 valued at $55,000 after buying an additional 884 shares during the period. ORG Wealth Partners LLC grew its holdings in Six Flags Entertainment by 45.8% in the second quarter. ORG Wealth Partners LLC now owns 3,188 shares of the company's stock valued at $102,000 after purchasing an additional 1,002 shares during the period. Contravisory Investment Management Inc. grew its holdings in Six Flags Entertainment by 42.5% in the second quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company's stock valued at $175,000 after purchasing an additional 1,717 shares during the period. Finally, Trust Co. of Toledo NA OH grew its holdings in Six Flags Entertainment by 9.2% in the second quarter. Trust Co. of Toledo NA OH now owns 7,144 shares of the company's stock valued at $217,000 after purchasing an additional 600 shares during the period. Hedge funds and other 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.