Six Flags Entertainment (NYSE:FUN) Given New $28.00 Price Target at Truist Financial

Key Points

• Truist Financial raised its price target on Six Flags Entertainment from $27 to $28 and kept a buy rating, implying about 17% upside from the stock’s current price.
• Analyst sentiment is mixed overall: UBS and Barclays lifted targets and remained bullish, while other firms were more cautious. The current consensus from MarketBeat is a Hold with an average price target of $25.15.
• Six Flags recently posted quarterly results that beat expectations on both earnings and revenue, and insiders have been buying shares. Institutional ownership remains high at 64.65%, suggesting continued investor interest.

Six Flags Entertainment (NYSE:FUN - Get Free Report) had its target price increased by investment analysts at Truist Financial from $27.00 to $28.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price target indicates a potential upside of 17.19% from the company's current price.

Several other equities analysts have also commented on the stock. UBS Group raised their target price on shares of Six Flags Entertainment from $27.00 to $30.00 and gave the company a "buy" rating in a report on Thursday. Weiss Ratings downgraded shares of Six Flags Entertainment from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, May 15th. Barclays increased their price target on shares of Six Flags Entertainment from $22.00 to $26.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Six Flags Entertainment from a "sell" rating to a "hold" rating in a research report on Sunday, May 24th. Finally, Citigroup upped their target price on Six Flags Entertainment from $20.00 to $24.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Six Flags Entertainment has an average rating of "Hold" and a consensus price target of $25.15.

Six Flags Entertainment Price Performance

NYSE FUN traded down $0.50 during midday trading on Friday, hitting $23.89. The company had a trading volume of 125,622 shares, compared to its average volume of 2,094,596. The company has a market capitalization of $2.44 billion, a PE ratio of -1.46 and a beta of 0.39. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 19.13. The firm has a 50-day moving average price of $19.79 and a 200-day moving average price of $17.47. Six Flags Entertainment has a twelve month low of $12.51 and a twelve month high of $33.50.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.71) by $0.06. The company had revenue of $225.63 million for the quarter, compared to analyst estimates of $207.49 million. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%. As a group, analysts anticipate that Six Flags Entertainment will post -0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Marilyn G. Spiegel acquired 2,500 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average cost of $19.10 per share, for a total transaction of $47,750.00. Following the completion of the acquisition, the director directly owned 15,161 shares of the company's stock, valued at approximately $289,575.10. This trade represents a 19.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard M. Haddrill bought 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $19.08 per share, with a total value of $190,800.00. Following the completion of the transaction, the insider owned 230,117 shares in the company, valued at $4,390,632.36. The trade was a 4.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 15,000 shares of company stock valued at $286,350 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Six Flags Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CoreCap Advisors LLC increased its position in Six Flags Entertainment by 145.5% during the 4th quarter. CoreCap Advisors LLC now owns 1,645 shares of the company's stock valued at $25,000 after purchasing an additional 975 shares during the period. Atlas Wealth LLC acquired a new position in shares of Six Flags Entertainment in the 1st quarter worth approximately $26,000. Danske Bank A S acquired a new position in shares of Six Flags Entertainment in the 3rd quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Six Flags Entertainment in the 4th quarter valued at $28,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Six Flags Entertainment in the 3rd quarter valued at $30,000. 64.65% of the stock is owned by institutional investors and hedge funds.

Six Flags Entertainment Company Profile

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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