JPMorgan Chase & Co. Cuts Six Flags Entertainment (NYSE:FUN) Price Target to $24.00

Key Points

• JPMorgan Chase & Co. has cut its price target for Six Flags Entertainment from $33.00 to $24.00, indicating a potential downside of 6.67% from its current stock price.
• Other analysts have also adjusted their targets, with Citigroup lowering its estimate to $37.00 and Morgan Stanley to $43.00, while a majority of analysts maintain a "Moderate Buy" rating.
• Six Flags reported an earnings miss with an EPS of $0.26, well below the consensus estimate of $0.79, despite a year-over-year revenue increase of 62.8%.

Six Flags Entertainment (NYSE:FUN - Get Free Report) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $33.00 to $24.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential downside of 6.67% from the company's current price.

Other analysts also recently issued reports about the stock. Citigroup decreased their target price on shares of Six Flags Entertainment from $42.00 to $37.00 and set a "buy" rating for the company in a research report on Thursday, July 10th. Morgan Stanley lowered their price target on Six Flags Entertainment from $47.00 to $43.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Wall Street Zen cut Six Flags Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. UBS Group reduced their target price 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, July 15th. Finally, Guggenheim set a $43.00 target price on shares of Six Flags Entertainment and gave the stock a "buy" rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.50.

Six Flags Entertainment Price Performance

NYSE FUN traded down $0.65 during trading hours on Thursday, hitting $25.72. 1,174,839 shares of the company's stock traded hands, compared to its average volume of 2,261,187. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.52 and a quick ratio of 0.42. The firm's 50-day moving average is $30.14 and its 200-day moving average is $35.12. Six Flags Entertainment has a 52-week low of $21.44 and a 52-week high of $49.77. The company has a market capitalization of $2.60 billion, a PE ratio of -5.30 and a beta of 0.82.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.79 by ($0.53). The firm 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%. The company'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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wedge Capital Management L L P NC grew its holdings in shares of Six Flags Entertainment by 0.9% during the second quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company's stock valued at $1,198,000 after buying an additional 335 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Six Flags Entertainment by 1.5% during the second quarter. Maryland State Retirement & Pension System now owns 27,632 shares of the company's stock valued at $841,000 after buying an additional 399 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in Six Flags Entertainment by 4.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,801 shares of the company's stock worth $298,000 after purchasing an additional 413 shares in the last quarter. Yousif Capital Management LLC boosted its position in Six Flags Entertainment by 1.2% in the second quarter. Yousif Capital Management LLC now owns 35,141 shares of the company's stock valued at $1,069,000 after buying an additional 433 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Six Flags Entertainment by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company's stock worth $287,000 after purchasing an additional 484 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.

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