Zacks Investment Research Downgrades Six Flags Entertainment (SIX) to Sell

Six Flags Entertainment (NYSE:SIX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

According to Zacks, “Six Flags Entertainment Corporation owns and operates regional parks. The Company has parks comprised of theme, water and zoological parks offering rides, water attractions, themed areas, concerts, shows, restaurants, game venues and retail outlets. The Company holds long-term licenses for theme park usage throughout the United States (except the Las Vegas metropolitan area), Canada, Mexico and other countries of certain Warner Bros. and DC Comics characters. These characters include Bugs Bunny, Daffy Duck, Tweety Bird, Yosemite Sam, Batman, Superman and others. In addition, it has certain rights to use the Hanna-Barbera and Cartoon Network characters, including Yogi Bear, Scooby-Doo, The Flintstones and others. The Company uses these characters to market its parks and to provide an enhanced family entertainment experience. Six Flags Entertainment Corporation is based in New York, NY. “

Other research analysts have also issued research reports about the company. B. Riley reiterated a “buy” rating on shares of Six Flags Entertainment in a report on Wednesday, November 1st. SunTrust Banks reiterated a “buy” rating and set a $70.00 price target on shares of Six Flags Entertainment in a report on Friday, October 27th. FBR & Co reiterated a “buy” rating and set a $65.00 price target on shares of Six Flags Entertainment in a report on Monday, September 25th. TheStreet upgraded Six Flags Entertainment from a “c+” rating to a “b-” rating in a report on Wednesday, October 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $72.00 price target on shares of Six Flags Entertainment in a report on Thursday, October 12th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. Six Flags Entertainment presently has an average rating of “Hold” and a consensus price target of $66.78.

Six Flags Entertainment (NYSE:SIX) opened at $65.08 on Friday. Six Flags Entertainment has a fifty-two week low of $51.25 and a fifty-two week high of $67.93. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of -3.53. The company has a market capitalization of $5,490.48, a price-to-earnings ratio of 31.14, a PEG ratio of 3.57 and a beta of 1.17.

Six Flags Entertainment (NYSE:SIX) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $2.11 EPS for the quarter, topping the consensus estimate of $1.80 by $0.31. Six Flags Entertainment had a negative return on equity of 47.41% and a net margin of 13.24%. The business had revenue of $580.40 million for the quarter, compared to analyst estimates of $583.59 million. During the same quarter in the previous year, the firm earned $1.09 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. research analysts expect that Six Flags Entertainment will post 2.13 earnings per share for the current year.

In related news, CEO James Reid-Anderson sold 1,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $66.25, for a total transaction of $66,250.00. Following the completion of the sale, the chief executive officer now directly owns 3,461,778 shares of the company’s stock, valued at approximately $229,342,792.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 281,085 shares of company stock valued at $18,702,788 over the last three months. Corporate insiders own 6.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Six Flags Entertainment by 9.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,637 shares of the company’s stock valued at $157,000 after acquiring an additional 225 shares in the last quarter. Mariner Wealth Advisors LLC grew its position in Six Flags Entertainment by 6.0% in the 2nd quarter. Mariner Wealth Advisors LLC now owns 5,245 shares of the company’s stock valued at $313,000 after acquiring an additional 298 shares in the last quarter. Prudential Financial Inc. grew its position in Six Flags Entertainment by 6.8% in the 2nd quarter. Prudential Financial Inc. now owns 4,690 shares of the company’s stock valued at $280,000 after acquiring an additional 300 shares in the last quarter. Commerce Bank grew its position in Six Flags Entertainment by 10.9% in the 2nd quarter. Commerce Bank now owns 5,100 shares of the company’s stock valued at $304,000 after acquiring an additional 500 shares in the last quarter. Finally, Advisor Group Inc. grew its position in Six Flags Entertainment by 3.5% in the 2nd quarter. Advisor Group Inc. now owns 18,980 shares of the company’s stock valued at $1,102,000 after acquiring an additional 633 shares in the last quarter. 99.45% of the stock is owned by institutional investors.

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Six Flags Entertainment Company Profile

Six Flags Entertainment Corporation (Six Flags) is a regional theme park operator. The Company operates in the theme parks segment. The Company operates approximately 19 regional theme and water parks. Its parks occupy approximately 4,500 acres of land. Its parks are located in geographically diverse markets across North America.

Analyst Recommendations for Six Flags Entertainment (NYSE:SIX)

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