Truist Financial Forecasts Strong Price Appreciation for Six Flags Entertainment (NYSE:FUN) Stock

Six Flags Entertainment (NYSE:FUN) had its price objective lifted by equities researchers at Truist Financial from $23.00 to $27.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 62.56% from the company’s current price.

Several other research firms have also issued reports on FUN. Weiss Ratings restated a “sell (d)” rating on shares of Six Flags Entertainment in a research report on Thursday, January 22nd. Guggenheim lowered their target price on shares of Six Flags Entertainment from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Citigroup lowered shares of Six Flags Entertainment from a “buy” rating to a “neutral” rating and cut their target price for the stock from $25.00 to $20.00 in a report on Thursday, February 5th. Jefferies Financial Group lowered their price objective on shares of Six Flags Entertainment from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Tuesday, January 13th. Finally, Barclays reiterated an “overweight” rating and set a $22.00 target price on shares of Six Flags Entertainment in a report on Monday, February 23rd. 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’s stock. Based on data from MarketBeat, Six Flags Entertainment has a consensus rating of “Hold” and a consensus target price of $24.92.

Six Flags Entertainment Stock Down 6.1%

Shares of NYSE FUN opened at $16.61 on Thursday. Six Flags Entertainment has a 1 year low of $12.51 and a 1 year high of $38.47. The firm’s 50-day moving average is $17.10 and its 200-day moving average is $17.98. The company has a current ratio of 0.69, a quick ratio of 0.59 and a debt-to-equity ratio of 9.40. The firm has a market capitalization of $1.69 billion, a PE ratio of -1.05 and a beta of 0.36.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Six Flags Entertainment by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 10,067,759 shares of the company’s stock worth $228,739,000 after purchasing an additional 53,111 shares in the last quarter. Morgan Stanley lifted its stake in Six Flags Entertainment by 62.1% in the fourth quarter. Morgan Stanley now owns 9,473,532 shares of the company’s stock valued at $145,324,000 after acquiring an additional 3,629,445 shares during the last quarter. Darlington Partners Capital Management LP lifted its stake in Six Flags Entertainment by 20.2% in the second quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company’s stock valued at $264,741,000 after acquiring an additional 1,460,000 shares during the last quarter. UBS Group AG increased its stake in shares of Six Flags Entertainment by 533.4% during the 4th quarter. UBS Group AG now owns 5,279,720 shares of the company’s stock worth $80,991,000 after purchasing an additional 4,446,104 shares during the last quarter. Finally, Dendur Capital LP raised its holdings in shares of Six Flags Entertainment by 6.2% in the 4th quarter. Dendur Capital LP now owns 4,953,500 shares of the company’s stock valued at $75,987,000 after purchasing an additional 290,000 shares during the period. Institutional investors and hedge funds own 64.65% of the company’s stock.

About Six Flags Entertainment

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.