Six Flags Entertainment (NYSE:SIX - Get Rating) was downgraded by Zacks Investment Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Wednesday, Zacks.com reports.
According to Zacks, "Six Flags Entertainment Corporation owns and operates regional parks. The Company has parks comprised of theme, water and zoological parks offering rides, water attractions, themed areas, concerts, shows, restaurants, game venues and retail outlets. The Company holds long-term licenses for theme park usage throughout the United States (except the Las Vegas metropolitan area), Canada, Mexico and other countries of certain Warner Bros. and DC Comics characters. These characters include Bugs Bunny, Daffy Duck, Tweety Bird, Yosemite Sam, Batman, Superman and others. In addition, it has certain rights to use the Hanna-Barbera and Cartoon Network characters, including Yogi Bear, Scooby-Doo, The Flintstones and others. The Company uses these characters to market its parks and to provide an enhanced family entertainment experience. Six Flags Entertainment Corporation is based in New York, NY. "
A number of other equities analysts have also recently weighed in on SIX. B. Riley cut their price target on Six Flags Entertainment from $63.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, April 21st. StockNews.com initiated coverage on Six Flags Entertainment in a report on Thursday, March 31st. They issued a "hold" rating for the company. Rosenblatt Securities began coverage on Six Flags Entertainment in a report on Monday, April 25th. They issued a "buy" rating and a $56.00 price target for the company. Truist Financial lowered their price objective on Six Flags Entertainment from $46.00 to $32.00 in a research report on Friday, May 13th. Finally, Oppenheimer raised Six Flags Entertainment from a "market perform" rating to an "outperform" rating and set a $54.00 price objective for the company in a research report on Tuesday, January 18th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $50.27.
SIX opened at $28.36 on Wednesday. The business has a 50 day simple moving average of $39.20 and a 200-day simple moving average of $40.61. The stock has a market capitalization of $2.45 billion, a P/E ratio of 15.50 and a beta of 2.22. Six Flags Entertainment has a 12 month low of $26.84 and a 12 month high of $47.61.
Six Flags Entertainment (NYSE:SIX - Get Rating) last issued its quarterly earnings data on Thursday, May 12th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.28. The firm had revenue of $138.10 million during the quarter, compared to analysts' expectations of $122.26 million. Six Flags Entertainment had a negative return on equity of 15.34% and a net margin of 10.31%. Six Flags Entertainment's revenue was up 68.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.12) earnings per share. As a group, sell-side analysts expect that Six Flags Entertainment will post 2.59 EPS for the current fiscal year.
In other Six Flags Entertainment news, Director Arik W. Ruchim bought 70,000 shares of the business's stock in a transaction on Monday, May 16th. The shares were purchased at an average price of $28.66 per share, with a total value of $2,006,200.00. Following the purchase, the director now directly owns 9,200,000 shares of the company's stock, valued at $263,672,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arik W. Ruchim purchased 205,000 shares of Six Flags Entertainment stock in a transaction on Friday, May 13th. The shares were acquired at an average price of $29.31 per share, with a total value of $6,008,550.00. Following the transaction, the director now directly owns 9,130,000 shares in the company, valued at approximately $267,600,300. The disclosure for this purchase can be found here. In the last three months, insiders purchased 425,000 shares of company stock worth $12,262,750. Company insiders own 0.41% of the company's stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new position in shares of Six Flags Entertainment during the 1st quarter valued at about $35,000. Acadian Asset Management LLC purchased a new stake in Six Flags Entertainment during the fourth quarter valued at about $39,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Six Flags Entertainment by 58.5% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,159 shares of the company's stock valued at $51,000 after buying an additional 428 shares in the last quarter. Spire Wealth Management lifted its stake in Six Flags Entertainment by 464.1% during the fourth quarter. Spire Wealth Management now owns 1,258 shares of the company's stock valued at $54,000 after buying an additional 1,035 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in Six Flags Entertainment by 58.9% during the first quarter. Captrust Financial Advisors now owns 1,257 shares of the company's stock valued at $55,000 after buying an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company's stock.
Six Flags Entertainment Company Profile (Get Rating)
Six Flags Entertainment Corporation owns and operates regional theme and waterparks under the Six Flags name. Its parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. The company also sells food, beverages, merchandise, and other products and services within its parks.
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