Six Flags Entertainment (NYSE:FUN) Price Target Cut to $43.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley has lowered its price target for Six Flags Entertainment from $47.00 to $43.00, maintaining an "overweight" rating on the stock, indicating a potential upside of 41.34% from the current price.
• Several analysts have adjusted their price targets for Six Flags recently, with Stifel Nicolaus and Truist Financial also reducing theirs to $43.00 and $45.00, respectively, while the consensus target price is now $45.40.
• Despite recent challenges, Six Flags' stock has seen a 2.5% increase, trading at $30.42, with a market capitalization of $3.08 billion and a significant debt-to-equity ratio of 2.75.

Six Flags Entertainment (NYSE:FUN - Get Free Report) had its price target decreased by stock analysts at Morgan Stanley from $47.00 to $43.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price target points to a potential upside of 72.13% from the stock's previous close.

A number of other brokerages have also recently weighed in on FUN. Citigroup dropped their price target on Six Flags Entertainment from $42.00 to $37.00 and set a "buy" rating on the stock in a research report on Thursday, July 10th. JPMorgan Chase & Co. lowered their target price on Six Flags Entertainment from $46.00 to $28.00 and set an "underweight" rating on the stock in a research report on Thursday, April 17th. Mizuho decreased their price target on Six Flags Entertainment from $43.00 to $36.00 and set an "outperform" rating for the company in a research note on Friday, July 18th. 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 note on Friday, July 18th. Finally, Barclays reduced their price objective on Six Flags Entertainment from $43.00 to $40.00 and set an "overweight" rating for the company in a research note on Friday, July 11th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.40.

Six Flags Entertainment Stock Down 18.6%

FUN traded down $5.72 on Monday, reaching $24.98. The company's stock had a trading volume of 11,727,637 shares, compared to its average volume of 2,026,184. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -8.94 and a beta of 0.82. Six Flags Entertainment has a 1 year low of $21.44 and a 1 year high of $49.77. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.28. The business's 50 day moving average is $31.18 and its 200 day moving average is $35.88.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($2.20) EPS for the quarter, beating analysts' consensus estimates of ($2.29) by $0.09. Six Flags Entertainment had a positive return on equity of 0.66% and a negative net margin of 11.30%. The firm had revenue of $202.06 million during the quarter, compared to the consensus estimate of $235.51 million. The business's quarterly revenue was up 98.9% compared to the same quarter last year. As a group, research analysts forecast that Six Flags Entertainment will post 0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Six Flags Entertainment news, Director Michelle M. Frymire sold 5,929 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $37.89, for a total transaction of $224,649.81. Following the transaction, the director directly owned 7,162 shares in the company, valued at $271,368.18. This trade represents a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Six Flags Entertainment

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Six Flags Entertainment by 96.5% during the second quarter. GAMMA Investing LLC now owns 1,800 shares of the company's stock worth $55,000 after buying an additional 884 shares in the last quarter. ORG Wealth Partners LLC raised its stake in shares of Six Flags Entertainment by 45.8% in the second quarter. ORG Wealth Partners LLC now owns 3,188 shares of the company's stock valued at $102,000 after acquiring an additional 1,002 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in shares of Six Flags Entertainment by 42.5% in the second quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company's stock valued at $175,000 after acquiring an additional 1,717 shares during the last quarter. Trust Co. of Toledo NA OH raised its stake in shares of Six Flags Entertainment by 9.2% in the second quarter. Trust Co. of Toledo NA OH now owns 7,144 shares of the company's stock valued at $217,000 after acquiring an additional 600 shares during the last quarter. Finally, Castleview Partners LLC bought a new position in Six Flags Entertainment in the 2nd quarter worth approximately $239,000. 64.65% of the stock is currently owned by institutional investors.

Six Flags Entertainment Company Profile

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.