Six Flags Entertainment (NYSE:FUN) Given New $13.00 Price Target at Barclays

Six Flags Entertainment (NYSE:FUN) had its price target cut by equities research analysts at Barclays from $22.00 to $13.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 29.17% from the stock’s current price.

A number of other equities analysts have also weighed in on FUN. JPMorgan Chase & Co. lowered their price target on shares of Six Flags Entertainment from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. Zacks Research upgraded shares of Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Truist Financial cut their price objective on shares of Six Flags Entertainment from $28.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, September 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Six Flags Entertainment in a research note on Wednesday, August 12th. Finally, Mizuho set a $5.00 target price on Six Flags Entertainment in a report on Wednesday, October 21st. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.85.

Six Flags Entertainment Price Performance

FUN traded up $0.82 on Friday, hitting $10.06. 3,645,808 shares of the company’s stock were exchanged, compared to its average volume of 2,663,524. Six Flags Entertainment has a fifty-two week low of $6.60 and a fifty-two week high of $26.28. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 43.34. The firm has a 50-day moving average price of $11.16 and a 200-day moving average price of $16.76. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -0.58 and a beta of 0.50.

Six Flags Entertainment (NYSE:FUN) last released its earnings results on Thursday, November 5th. The company reported ($3.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($5.52). The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Six Flags Entertainment had a positive return on equity of 7.43% and a negative net margin of 57.25%. Six Flags Entertainment’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.20) EPS. As a group, equities analysts anticipate that Six Flags Entertainment will post -0.91 earnings per share for the current year.

Insiders Place Their Bets

In other Six Flags Entertainment news, CEO John Reilly bought 15,713 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was bought at an average price of $15.80 per share, with a total value of $248,265.40. Following the completion of the purchase, the chief executive officer directly owned 297,736 shares in the company, valued at $4,704,228.80. The trade was a 5.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Six Flags Entertainment

Large investors have recently modified their holdings of the business. Maryland State Retirement & Pension System increased its holdings in Six Flags Entertainment by 53.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 22,804 shares of the company’s stock valued at $244,000 after purchasing an additional 7,940 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Six Flags Entertainment during the third quarter worth $4,884,000. Lido Advisors LLC acquired a new position in Six Flags Entertainment during the third quarter worth $1,022,000. State of Wyoming lifted its stake in Six Flags Entertainment by 27.3% during the third quarter. State of Wyoming now owns 33,581 shares of the company’s stock worth $360,000 after purchasing an additional 7,194 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Six Flags Entertainment by 138.9% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 48,500 shares of the company’s stock worth $519,000 after buying an additional 28,200 shares during the period. Institutional investors and hedge funds own 64.65% of the company’s stock.

Trending Headlines about Six Flags Entertainment

Here are the key news stories impacting Six Flags Entertainment this week:

• Positive Sentiment: Long-term indicators were encouraging: Six Flags’ active pass base grew 7% year over year, and free cash flow for the first nine months improved by $300 million. Article: Six Flags: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Third-quarter revenue of $1.17 billion topped estimates, and the reported loss narrowed substantially from the year-earlier quarter. These results helped support a “better-than-feared” reaction, despite the quarter’s other setbacks. Article: Six Flags rallies after posting better-than-feared results
• Negative Sentiment: Profitability was much weaker than analysts expected: Six Flags reported a loss of $3.59 per share versus consensus expectations for earnings of $1.93. Revenue was also down 11% year over year, and the company cut its profit outlook after October setbacks. Article: Six Flags narrows losses, but October’s double blow forces profit outlook cut
• Negative Sentiment: Reports linked an attendance dip to a fatal Georgia roller-coaster incident; Six Flags has also launched a ride-safety review. The incident could weigh on visitor demand and add scrutiny. Article: Six Flags loses nearly $400 million, reveals attendance dip after deadly Georgia roller coaster incident
• Negative Sentiment: Two law firms announced investigations into potential securities claims following the stock’s significant decline. These are investigations, not findings of wrongdoing, but add legal and headline risk. Article: FUN Investigation Reminder

About Six Flags Entertainment

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.