Six Flags Entertainment (SIX) Upgraded to Buy by Zacks Investment Research

Six Flags Entertainment (NYSE:SIX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage currently has a $75.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.52% from the stock’s current price.

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. “

A number of other brokerages have also weighed in on SIX. Stifel Nicolaus reiterated a “buy” rating and set a $72.00 target price on shares of Six Flags Entertainment in a research report on Thursday, October 12th. FBR & Co reiterated a “buy” rating on shares of Six Flags Entertainment in a research report on Wednesday, October 25th. TheStreet upgraded shares of Six Flags Entertainment from a “c+” rating to a “b-” rating in a research report on Wednesday, October 25th. Wedbush set a $76.00 target price on shares of Six Flags Entertainment and gave the stock a “buy” rating in a research report on Monday, January 8th. Finally, SunTrust Banks reiterated a “buy” rating and set a $70.00 target price on shares of Six Flags Entertainment in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $68.20.

Six Flags Entertainment (NYSE SIX) traded down $0.04 on Friday, reaching $67.25. 696,000 shares of the company traded hands, compared to its average volume of 721,692. The company has a market capitalization of $5,630.00, a price-to-earnings ratio of 32.18, a P/E/G ratio of 3.58 and a beta of 1.18. The company has a debt-to-equity ratio of -3.53, a quick ratio of 0.71 and a current ratio of 0.80. Six Flags Entertainment has a one year low of $51.25 and a one year high of $69.00.

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

In other news, Chairman James Reid-Anderson sold 78,614 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $66.32, for a total value of $5,213,680.48. Following the sale, the chairman now directly owns 3,520,146 shares of the company’s stock, valued at $233,456,082.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 281,139 shares of company stock worth $18,706,366. Insiders own 6.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its stake in Six Flags Entertainment by 171.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,900 shares of the company’s stock valued at $193,000 after purchasing an additional 1,830 shares in the last quarter. First Trust Advisors LP purchased a new stake in Six Flags Entertainment in the third quarter valued at approximately $205,000. Csenge Advisory Group purchased a new stake in Six Flags Entertainment in the third quarter valued at approximately $238,000. BT Investment Management Ltd purchased a new stake in Six Flags Entertainment in the third quarter valued at approximately $262,000. Finally, Financial Consulate Inc. purchased a new stake in Six Flags Entertainment in the third quarter valued at approximately $272,000. 99.45% of the stock is currently owned by hedge funds and other institutional investors.

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About Six Flags Entertainment

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.

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