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

Six Flags Entertainment (NYSE:FUN) had its price objective lowered by Barclays from $22.00 to $13.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

FUN has been the topic of several other reports. Guggenheim reduced their price target on Six Flags Entertainment from $28.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, October 21st. Citizens Jmp decreased their price target on Six Flags Entertainment from $24.00 to $14.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 22nd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $9.00 price objective on shares of Six Flags Entertainment in a research report on Friday. Mizuho set a $5.00 target price on shares of Six Flags Entertainment in a report on Wednesday, October 21st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Six Flags Entertainment in a report on Wednesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.85.

Six Flags Entertainment Price Performance

Shares of FUN traded up $0.79 during midday trading on Friday, reaching $10.03. The stock had a trading volume of 11,218,551 shares, compared to its average volume of 5,953,021. The company’s 50-day moving average is $11.05 and its 200 day moving average is $16.73. Six Flags Entertainment has a 12-month low of $6.60 and a 12-month 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 company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -1.10 and a beta of 0.50.

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

Insider Activity at Six Flags Entertainment

In other news, CEO John Reilly bought 15,713 shares of the stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $15.80 per share, for a total transaction of $248,265.40. Following the purchase, the chief executive officer directly owned 297,736 shares in the company, valued at $4,704,228.80. This trade represents a 5.57% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Six Flags Entertainment

Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in shares of Six Flags Entertainment by 36.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 2,031 shares of the company’s stock worth $36,000 after acquiring an additional 539 shares in the last quarter. Atlas Wealth LLC bought a new stake in Six Flags Entertainment during the first quarter worth about $26,000. Integrated Wealth Concepts LLC purchased a new stake in Six Flags Entertainment in the second quarter worth about $31,000. Allworth Financial LP purchased a new stake in Six Flags Entertainment in the second quarter worth about $35,000. Finally, PNC Financial Services Group Inc. grew its holdings in Six Flags Entertainment by 25.5% in the first quarter. PNC Financial Services Group Inc. now owns 9,589 shares of the company’s stock worth $170,000 after purchasing an additional 1,947 shares during the period. 64.65% of the stock is currently owned by institutional investors.

More Six Flags Entertainment News

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

• Positive Sentiment: Longer-term indicators improved: the active pass base grew 7% year over year, and free cash flow for the first nine months improved by $300 million. Six Flags: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Barclays lowered its price target from $22 to $13 but maintained an “overweight” rating; the new target implies 29.6% upside from the cited $10.03 price, though the sizable reduction reflects a more cautious valuation. Barclays stock recommendations
• Negative Sentiment: Third-quarter EPS was a loss of $3.59, far below analysts’ expected $1.93 profit. Revenue of $1.17 billion slightly topped estimates but fell 11% year over year. The company also cut its profit outlook after October setbacks, including attendance pressure following a fatal Georgia coaster incident, and announced a ride-safety review. Six Flags narrows losses, but October’s double blow forces profit outlook cut
• Negative Sentiment: Two law firms announced investigations into potential securities claims related to Six Flags, adding legal and reputational uncertainty for investors. Six Flags investors notified of securities fraud investigation

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.