Six Flags Entertainment (NYSE:FUN) Given “Equal Weight” Rating at Morgan Stanley

Six Flags Entertainment (NYSE:FUN)‘s stock had its “equal weight” rating reissued by investment analysts at Morgan Stanley in a research note issued to investors on Monday,Benzinga reports. They currently have a $20.00 price objective on the stock, down from their previous price objective of $30.00. Morgan Stanley’s target price would suggest a potential upside of 10.71% from the company’s current price.

A number of other research firms have also recently issued reports on FUN. Weiss Ratings restated a “sell (d)” rating on shares of Six Flags Entertainment in a research note on Wednesday, October 8th. Stifel Nicolaus lowered their price target on shares of Six Flags Entertainment from $50.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Mizuho set a $28.00 price objective on Six Flags Entertainment in a report on Tuesday, November 4th. Jefferies Financial Group downgraded Six Flags Entertainment from a “buy” rating to a “hold” rating and decreased their target price for the company from $41.00 to $25.00 in a research report on Thursday, August 7th. Finally, Guggenheim set a $43.00 target price on Six Flags Entertainment and gave the stock a “buy” rating in a research note on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $32.43.

Six Flags Entertainment Price Performance

Shares of NYSE FUN opened at $18.07 on Monday. The business’s 50 day moving average price is $22.62 and its two-hundred day moving average price is $28.16. The company has a market cap of $1.83 billion, a PE ratio of -3.72 and a beta of 0.69. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 2.97. Six Flags Entertainment has a twelve month low of $17.43 and a twelve month high of $49.77.

Six Flags Entertainment (NYSE:FUN) last released its quarterly earnings data on Friday, November 7th. The company reported ($11.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($14.01). Six Flags Entertainment had a negative net margin of 14.92% and a negative return on equity of 1.00%. 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 earned $4.21 earnings per share. The business’s quarterly revenue was down 2.3% on a year-over-year basis. On average, analysts predict that Six Flags Entertainment will post 0.83 EPS for the current year.

Hedge Funds Weigh In On Six Flags Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FUN. Ameritas Advisory Services LLC bought a new stake in shares of Six Flags Entertainment during the 3rd quarter valued at $30,000. Northwestern Mutual Wealth Management Co. raised its stake in Six Flags Entertainment by 259.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock valued at $30,000 after purchasing an additional 722 shares in the last quarter. Allworth Financial LP raised its stake in Six Flags Entertainment by 1,179.0% in the second quarter. Allworth Financial LP now owns 1,522 shares of the company’s stock valued at $46,000 after purchasing an additional 1,403 shares in the last quarter. GAMMA Investing LLC lifted its position in Six Flags Entertainment by 96.5% during the second quarter. GAMMA Investing LLC now owns 1,800 shares of the company’s stock worth $55,000 after purchasing an additional 884 shares during the period. Finally, Caldwell Trust Co acquired a new stake in Six Flags Entertainment during the second quarter worth about $56,000. 64.65% of the stock is owned by institutional investors and hedge funds.

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.