Six Flags Entertainment’s (SIX) “Buy” Rating Reiterated at KeyCorp

Six Flags Entertainment (NYSE:SIX)‘s stock had its “buy” rating reaffirmed by equities research analysts at KeyCorp in a research report issued on Friday, AnalystRatings.com reports. They presently have a $57.00 price target on the stock, down from their prior price target of $62.00. KeyCorp’s price objective indicates a potential upside of 29.11% from the company’s previous close. The analysts noted that the move was a valuation call.

Other equities research analysts also recently issued reports about the stock. B. Riley upped their price objective on shares of Six Flags Entertainment from $64.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Co upgraded Six Flags Entertainment from a “market perform” rating to an “outperform” rating and upped their price target for the company from $52.00 to $56.00 in a research report on Tuesday, July 9th. ValuEngine upgraded Six Flags Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Wedbush decreased their price target on Six Flags Entertainment from $62.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Zacks Investment Research cut Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Six Flags Entertainment has an average rating of “Buy” and an average price target of $59.40.

NYSE SIX opened at $44.15 on Friday. The company has a market cap of $3.79 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 2.40 and a beta of 0.99. Six Flags Entertainment has a 52 week low of $43.63 and a 52 week high of $64.28. The firm’s 50-day simple moving average is $52.02 and its two-hundred day simple moving average is $52.64.

Six Flags Entertainment (NYSE:SIX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $2.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.30 by ($0.19). The business had revenue of $621.18 million for the quarter, compared to analysts’ expectations of $643.90 million. Six Flags Entertainment had a net margin of 18.02% and a negative return on equity of 38.61%. Six Flags Entertainment’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $2.16 earnings per share. As a group, equities research analysts expect that Six Flags Entertainment will post 2.83 EPS for the current fiscal year.

In related news, CFO Marshall Barber sold 468 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $58.98, for a total value of $27,602.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 643 shares of company stock worth $37,865. Company insiders own 5.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Six Flags Entertainment by 3.8% during the second quarter. Vanguard Group Inc. now owns 6,880,306 shares of the company’s stock valued at $341,813,000 after acquiring an additional 249,890 shares during the last quarter. BlackRock Inc. increased its holdings in Six Flags Entertainment by 4.7% in the 2nd quarter. BlackRock Inc. now owns 6,826,552 shares of the company’s stock worth $339,145,000 after buying an additional 304,187 shares in the last quarter. Royal Bank of Canada increased its holdings in Six Flags Entertainment by 17.1% in the 2nd quarter. Royal Bank of Canada now owns 1,834,338 shares of the company’s stock worth $91,130,000 after buying an additional 268,500 shares in the last quarter. Cardinal Capital Management LLC CT increased its holdings in Six Flags Entertainment by 16.3% in the 2nd quarter. Cardinal Capital Management LLC CT now owns 1,715,662 shares of the company’s stock worth $85,234,000 after buying an additional 241,039 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in Six Flags Entertainment by 0.4% in the 2nd quarter. Bessemer Group Inc. now owns 1,446,085 shares of the company’s stock worth $71,843,000 after buying an additional 5,343 shares in the last quarter. Institutional investors own 85.17% of the company’s stock.

About Six Flags Entertainment

Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags name. The company's parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. It owns and operates 25 parks, including 22 parks in the United States; 2 parks in Mexico; and 1 park in Montreal, Canada.

Read More: Cost of Capital Explained

Analyst Recommendations for Six Flags Entertainment (NYSE:SIX)

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