Six Flags Entertainment (NYSE:FUN) Sets New 1-Year Low on Analyst Downgrade

Key Points

• Six Flags shares hit a new 52-week low after Goldman Sachs cut its price target from $15 to $6 while maintaining a neutral rating; the stock traded as low as $6.60.
• Analyst sentiment remains mixed: seven analysts rate the stock Buy, seven Hold and two Sell, resulting in an average Hold rating and a consensus price target of $16.92.
• The company recently missed quarterly expectations, reporting $0.14 in EPS versus $0.29 expected and revenue of $864.92 million versus $928.36 million, with revenue down 7% year over year.

Six Flags Entertainment Corporation (NYSE:FUN - Get Free Report) shares hit a new 52-week low on Monday after The Goldman Sachs Group lowered their price target on the stock from $15.00 to $6.00. The Goldman Sachs Group currently has a neutral rating on the stock. Six Flags Entertainment traded as low as $6.60 and last traded at $7.1750, with a volume of 165,562 shares. The stock had previously closed at $6.77.

Other equities research analysts also recently issued reports about the company. Citizens Jmp decreased their price objective on Six Flags Entertainment from $24.00 to $14.00 and set a "market outperform" rating for the company in a report on Thursday. Northcoast Research began coverage on shares of Six Flags Entertainment in a research report on Wednesday, July 8th. They set a "neutral" rating on the stock. Mizuho set a $5.00 price objective on shares of Six Flags Entertainment in a research note on Wednesday. Guggenheim dropped their price objective on shares of Six Flags Entertainment from $28.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, UBS Group reduced their target price on shares of Six Flags Entertainment from $27.00 to $18.00 and set a "buy" rating for the company in a report on Friday, October 16th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $16.92.

Insiders Place Their Bets

In other Six Flags Entertainment news, CEO John Reilly acquired 15,713 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average cost of $15.80 per share, for a total transaction of $248,265.40. Following the transaction, the chief executive officer directly owned 297,736 shares of the company's stock, valued at approximately $4,704,228.80. This represents a 5.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Six Flags Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of FUN. Public Employees Retirement System of Ohio raised its holdings in Six Flags Entertainment by 36.1% in the first quarter. Public Employees Retirement System of Ohio now owns 2,031 shares of the company's stock worth $36,000 after buying an additional 539 shares during the last quarter. Atlas Wealth LLC bought a new position in shares of Six Flags Entertainment in the first quarter worth approximately $26,000. Integrated Wealth Concepts LLC bought a new position in shares of Six Flags Entertainment in the second quarter worth approximately $31,000. Allworth Financial LP purchased a new stake in shares of Six Flags Entertainment during the second quarter valued at approximately $35,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Six Flags Entertainment by 25.5% during the first quarter. PNC Financial Services Group Inc. now owns 9,589 shares of the company's stock valued at $170,000 after buying an additional 1,947 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company's stock.

Six Flags Entertainment Trading Up 6.6%

The stock has a market cap of $738.24 million, a PE ratio of -0.41 and a beta of 0.45. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 43.34. The stock's fifty day moving average price is $12.71 and its 200 day moving average price is $17.28.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.15). The business had revenue of $864.92 million for the quarter, compared to analysts' expectations of $928.36 million. Six Flags Entertainment had a negative net margin of 57.25% and a positive return on equity of 7.43%. The company's quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the business earned $0.26 earnings per share. On average, sell-side analysts forecast that Six Flags Entertainment Corporation will post -0.91 EPS for the current year.

Six Flags Entertainment Company Profile

Six Flags Entertainment Corporation is a regional theme park operator headquartered in Charlotte, North Carolina. The company owns and operates amusement parks, water parks and resort properties, offering roller coasters, family rides, live entertainment, seasonal events, food and beverage, merchandise, and other guest experiences. Its portfolio includes parks operating under the Six Flags, Cedar Fair and affiliated brand names, including Six Flags Great Adventure, Cedar Point, Knott's Berry Farm and Kings Island.

The company serves guests primarily in the United States, as well as in Canada and Mexico.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.