Six Flags Entertainment (NYSE:FUN) Upgraded at Truist Financial

Truist Financial upgraded shares of Six Flags Entertainment (NYSE:FUN) from a hold rating to a buy rating in a research note published on Tuesday morning, MarketBeat.com reports. The brokerage currently has $23.00 price target on the stock, down from their prior price target of $27.00.

Several other brokerages have also recently commented on FUN. Zacks Research raised shares of Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Stifel Nicolaus decreased their price target on shares of Six Flags Entertainment from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. The Goldman Sachs Group decreased their price objective on Six Flags Entertainment from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Mizuho lowered their price target on shares of Six Flags Entertainment from $28.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Six Flags Entertainment in a research report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.29.

Six Flags Entertainment Stock Down 0.6%

Six Flags Entertainment stock opened at $15.29 on Tuesday. The firm’s fifty day moving average is $19.47 and its 200 day moving average is $25.46. Six Flags Entertainment has a 12-month low of $12.51 and a 12-month high of $49.77. The company has a quick ratio of 0.48, a current ratio of 0.58 and a debt-to-equity ratio of 8.16. The company has a market capitalization of $1.55 billion, a PE ratio of -0.86 and a beta of 0.39.

Six Flags Entertainment (NYSE:FUN) last posted its quarterly earnings results on Friday, November 7th. The company reported ($11.77) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($14.01). Six Flags Entertainment had a negative net margin of 56.44% and a positive return on equity of 9.64%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business posted $4.21 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Six Flags Entertainment will post 0.83 EPS for the current fiscal year.

Institutional Trading of Six Flags Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Veracity Capital LLC raised its position in Six Flags Entertainment by 20.0% in the second quarter. Veracity Capital LLC now owns 25,282 shares of the company’s stock worth $769,000 after acquiring an additional 4,214 shares during the period. Balefire LLC lifted its holdings in Six Flags Entertainment by 73.7% during the second quarter. Balefire LLC now owns 91,556 shares of the company’s stock valued at $2,786,000 after purchasing an additional 38,832 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Six Flags Entertainment by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company’s stock valued at $287,000 after buying an additional 484 shares in the last quarter. Contravisory Investment Management Inc. boosted its stake in shares of Six Flags Entertainment by 42.5% in the second quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company’s stock worth $175,000 after acquiring an additional 1,717 shares during the period. Finally, Wedge Capital Management L L P NC boosted its stake in Six Flags Entertainment by 0.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company’s stock worth $1,198,000 after purchasing an additional 335 shares during the period. 64.65% of the stock is owned by hedge funds and other institutional investors.

About Six Flags Entertainment

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.