Six Flags Entertainment (NYSE:FUN) Given New $40.00 Price Target at Oppenheimer

Key Points

• Oppenheimer has lowered its price target for Six Flags Entertainment (NYSE:FUN) from $60.00 to $40.00, maintaining an "outperform" rating, indicating a potential upside of 69.42% from the current stock price.
• Multiple analysts have recently decreased their price targets for Six Flags, with some rating it as "underweight" and others as "sell," showcasing a broad negative sentiment towards the stock.
• The company reported a loss of $0.53 per share in its latest quarterly earnings, missing analyst expectations, although revenue increased by 62.8% year-over-year.

Six Flags Entertainment (NYSE:FUN - Free Report) had its price objective cut by Oppenheimer from $60.00 to $40.00 in a report published on Thursday morning, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently issued reports on FUN. Citigroup reduced their price objective on 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. JPMorgan Chase & Co. reduced their price objective on Six Flags Entertainment from $33.00 to $24.00 and set an "underweight" rating for the company in a research report on Thursday, August 14th. UBS Group reduced their price objective on Six Flags Entertainment from $40.00 to $34.00 and set a "buy" rating for the company in a research report on Tuesday, August 19th. Stifel Nicolaus reduced their price objective 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. Finally, Jefferies Financial Group cut Six Flags Entertainment from a "buy" rating to a "hold" rating and reduced their price objective for the company from $41.00 to $25.00 in a research report on Thursday, August 7th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $36.36.

Six Flags Entertainment Stock Performance

Shares of FUN traded down $0.82 during mid-day trading on Thursday, hitting $23.03. The stock had a trading volume of 1,953,031 shares, compared to its average volume of 2,393,985. The company has a market cap of $2.33 billion, a PE ratio of -4.76 and a beta of 0.72. The company's fifty day simple moving average is $27.89 and its two-hundred day simple moving average is $32.50. Six Flags Entertainment has a fifty-two week low of $21.44 and a fifty-two week high of $49.77. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 2.97.

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

Institutional Trading of Six Flags Entertainment

Institutional investors and hedge funds have recently modified their holdings of the company. Peregrine Capital Management LLC increased its position in shares of Six Flags Entertainment by 7.5% during the first quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company's stock valued at $4,691,000 after purchasing an additional 9,231 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Six Flags Entertainment by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company's stock valued at $287,000 after purchasing an additional 484 shares during the period. DAVENPORT & Co LLC grew its stake in shares of Six Flags Entertainment by 14.0% in the 2nd quarter. DAVENPORT & Co LLC now owns 664,853 shares of the company's stock valued at $20,231,000 after purchasing an additional 81,418 shares during the period. Knights of Columbus Asset Advisors LLC grew its stake in shares of Six Flags Entertainment by 16.1% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 60,769 shares of the company's stock valued at $1,849,000 after purchasing an additional 8,443 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Six Flags Entertainment by 8.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 55,925 shares of the company's stock worth $1,701,000 after acquiring an additional 4,251 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors.

About Six Flags Entertainment

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.