Guggenheim Cuts Six Flags Entertainment (NYSE:FUN) Price Target to $29.00

Key Points

• Guggenheim cut its price target on Six Flags to $29 (from $33) while keeping a "buy" rating, a level that implies roughly a 51.44% upside from the stock's prior close.
• The analyst landscape is mixed with a consensus rating of "Hold" and a consensus target of $23.69 — 7 analysts rate the stock Buy, 5 Hold and 2 Sell.
• Six Flags missed quarterly EPS at ($0.91) vs. ($0.31) expected despite revenue of $650.1M, and the stock trades around $19.15 with a $1.95B market cap and a high debt-to-equity ratio of 9.40.

Six Flags Entertainment (NYSE:FUN - Get Free Report) had its price target lowered by stock analysts at Guggenheim from $33.00 to $29.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's target price would indicate a potential upside of 51.44% from the stock's previous close.

A number of other equities research analysts also recently issued reports on FUN. Barclays restated an "overweight" rating and set a $22.00 price target on shares of Six Flags Entertainment in a research note on Monday, February 23rd. Citigroup downgraded Six Flags Entertainment from a "buy" rating to a "neutral" rating and cut their price target for the company from $25.00 to $20.00 in a research note on Thursday, February 5th. Oppenheimer cut their price target on Six Flags Entertainment from $40.00 to $26.00 and set an "outperform" rating for the company in a research note on Wednesday, April 1st. Jefferies Financial Group lowered their price objective on Six Flags Entertainment from $20.00 to $17.00 and set a "hold" rating on the stock in a research report on Tuesday, January 13th. Finally, Morgan Stanley set a $18.00 price objective on Six Flags Entertainment in a research report on Friday, February 20th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $23.69.

Six Flags Entertainment Stock Performance

Shares of Six Flags Entertainment stock traded down $0.79 during trading hours on Monday, reaching $19.15. 115,755 shares of the stock traded hands, compared to its average volume of 2,155,496. The company has a 50 day moving average price of $17.19 and a 200 day moving average price of $17.58. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -1.20 and a beta of 0.32. Six Flags Entertainment has a one year low of $12.51 and a one year high of $38.47. The company has a quick ratio of 0.59, a current ratio of 0.69 and a debt-to-equity ratio of 9.40.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.60). The firm had revenue of $650.09 million for the quarter, compared to the consensus estimate of $602.68 million. Six Flags Entertainment had a negative net margin of 51.58% and a positive return on equity of 3.77%. The business's quarterly revenue was down 5.4% on a year-over-year basis. On average, equities research analysts expect that Six Flags Entertainment will post 0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FUN. UBS Group AG lifted its position in shares of Six Flags Entertainment by 533.4% during the 4th quarter. UBS Group AG now owns 5,279,720 shares of the company's stock valued at $80,991,000 after buying an additional 4,446,104 shares in the last quarter. JANA Partners Management LP purchased a new position in shares of Six Flags Entertainment during the 3rd quarter valued at about $92,015,000. Rush Island Management LP purchased a new position in Six Flags Entertainment in the 2nd quarter worth approximately $115,454,000. Morgan Stanley lifted its holdings in Six Flags Entertainment by 62.1% in the 4th quarter. Morgan Stanley now owns 9,473,532 shares of the company's stock worth $145,324,000 after purchasing an additional 3,629,445 shares in the last quarter. Finally, EdgePoint Investment Group Inc. purchased a new position in Six Flags Entertainment in the 3rd quarter worth approximately $70,764,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

About Six Flags Entertainment

Six Flags Entertainment Corporation is a publicly traded regional theme park operator based in Arlington, Texas. The company develops, owns and operates amusement and water parks, offering a diverse portfolio of thrill rides, family attractions, live entertainment, food and beverage offerings, and retail merchandise. Its main revenue streams include single-day tickets, season passes, on-site accommodations, in-park retail sales, and food and beverage services.

Founded in 1961 by Angus G.

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