Oppenheimer Cuts Six Flags Entertainment (NYSE:FUN) Price Target to $26.00

Six Flags Entertainment (NYSE:FUN) had its price objective decreased by Oppenheimer from $40.00 to $26.00 in a research note published on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Truist Financial lifted their target price on Six Flags Entertainment from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Morgan Stanley set a $18.00 price target on Six Flags Entertainment in a report on Friday, February 20th. Citigroup downgraded Six Flags Entertainment from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $20.00 in a research report on Thursday, February 5th. Mizuho lifted their price objective on Six Flags Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Finally, Jefferies Financial Group lowered their price objective on Six Flags Entertainment from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, January 13th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.85.

Six Flags Entertainment Price Performance

NYSE:FUN opened at $16.81 on Wednesday. The company has a debt-to-equity ratio of 9.40, a current ratio of 0.69 and a quick ratio of 0.59. Six Flags Entertainment has a one year low of $12.51 and a one year high of $38.47. The company has a fifty day moving average price of $17.11 and a 200 day moving average price of $17.79. The stock has a market cap of $1.71 billion, a P/E ratio of -1.06 and a beta of 0.32.

Six Flags Entertainment (NYSE:FUN) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.60). Six Flags Entertainment had a positive return on equity of 3.77% and a negative net margin of 51.58%.The company had revenue of $650.09 million during the quarter, compared to analyst estimates of $602.68 million. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts anticipate that Six Flags Entertainment will post 0.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JANA Partners Management LP bought a new stake in Six Flags Entertainment in the third quarter valued at $92,015,000. Long Pond Capital LP lifted its holdings in shares of Six Flags Entertainment by 55.2% during the second quarter. Long Pond Capital LP now owns 3,296,660 shares of the company’s stock valued at $100,317,000 after acquiring an additional 1,172,101 shares during the period. Quantbot Technologies LP lifted its holdings in shares of Six Flags Entertainment by 190.5% during the third quarter. Quantbot Technologies LP now owns 230,120 shares of the company’s stock valued at $5,228,000 after acquiring an additional 150,913 shares during the period. Luxor Capital Group LP boosted its stake in shares of Six Flags Entertainment by 62.8% in the 2nd quarter. Luxor Capital Group LP now owns 1,319,649 shares of the company’s stock valued at $40,157,000 after purchasing an additional 509,300 shares in the last quarter. Finally, Channing Capital Management LLC boosted its stake in shares of Six Flags Entertainment by 75.2% in the 3rd quarter. Channing Capital Management LLC now owns 374,874 shares of the company’s stock valued at $8,517,000 after purchasing an additional 160,931 shares in the last quarter. Institutional investors own 64.65% of the company’s stock.

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.