JPMorgan Chase & Co. Issues Positive Forecast for Six Flags Entertainment (NYSE:FUN) Stock Price

Key Points

• JPMorgan raised its price target on Six Flags from $14 to $16 but kept an underweight rating, with the new target implying about an 18.6% downside from the prior close.
• Analyst views are mixed—seven Buy, five Hold and two Sell—leaving a MarketBeat consensus of Hold with a consensus price target of $23.38.
• Six Flags shares traded up to $19.64 (up ~8.4%) after the quarter in which EPS missed (‑$0.91 vs. ‑$0.31) despite a revenue beat; the company shows high leverage (debt/equity 9.40) and a negative net margin (‑51.58%).

Six Flags Entertainment (NYSE:FUN - Get Free Report) had its price target raised by equities researchers at JPMorgan Chase & Co. from $14.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential downside of 18.55% from the stock's previous close.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer reduced their price target on shares of Six Flags Entertainment from $40.00 to $26.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. Weiss Ratings upgraded shares of Six Flags Entertainment from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday. Citigroup cut shares of Six Flags Entertainment from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $25.00 to $20.00 in a report on Thursday, February 5th. Barclays reiterated an "overweight" rating and set a $22.00 price objective on shares of Six Flags Entertainment in a report on Monday, February 23rd. Finally, Truist Financial lifted their price objective on shares of Six Flags Entertainment from $23.00 to $27.00 and gave the company a "buy" rating in a report on Thursday, March 26th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $23.38.

Six Flags Entertainment Stock Up 8.4%

NYSE:FUN traded up $1.51 during trading hours on Wednesday, reaching $19.64. The company had a trading volume of 3,021,908 shares, compared to its average volume of 2,054,463. The company has a quick ratio of 0.59, a current ratio of 0.69 and a debt-to-equity ratio of 9.40. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -1.24 and a beta of 0.35. The business's 50-day simple moving average is $17.66 and its two-hundred day simple moving average is $17.28. Six Flags Entertainment has a twelve month low of $12.51 and a twelve month high of $38.47.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($0.91) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.60). The company had revenue of $650.09 million during the quarter, compared to analyst estimates of $602.68 million. Six Flags Entertainment had a positive return on equity of 3.77% and a negative net margin of 51.58%.The business's revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities analysts expect that Six Flags Entertainment will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. JANA Partners Management LP bought a new position in shares of Six Flags Entertainment during the third quarter valued at about $92,015,000. UBS Group AG lifted its position in shares of Six Flags Entertainment by 533.4% during the fourth quarter. UBS Group AG now owns 5,279,720 shares of the company's stock valued at $80,991,000 after purchasing an additional 4,446,104 shares in the last quarter. Quantbot Technologies LP raised its position in Six Flags Entertainment by 190.5% in the third quarter. Quantbot Technologies LP now owns 230,120 shares of the company's stock worth $5,228,000 after acquiring an additional 150,913 shares during the period. Channing Capital Management LLC raised its position in Six Flags Entertainment by 75.2% in the third quarter. Channing Capital Management LLC now owns 374,874 shares of the company's stock worth $8,517,000 after acquiring an additional 160,931 shares during the period. Finally, Interval Partners LP raised its position in Six Flags Entertainment by 76.0% in the third quarter. Interval Partners LP now owns 388,188 shares of the company's stock worth $8,820,000 after acquiring an additional 167,643 shares during the period. 64.65% of the stock is owned by 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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