B. Riley Upgrades Six Flags Entertainment (NYSE:SIX) to Buy

B. Riley upgraded shares of Six Flags Entertainment (NYSE:SIX) from a neutral rating to a buy rating in a report released on Friday morning, Marketbeat reports. The brokerage currently has $30.00 price objective on the stock, up from their previous price objective of $24.00.

A number of other equities analysts also recently commented on SIX. JPMorgan Chase & Co. started coverage on shares of Six Flags Entertainment in a research note on Wednesday, November 1st. They set an underweight rating and a $16.00 target price for the company. Morgan Stanley lowered their target price on shares of Six Flags Entertainment from $28.00 to $26.00 and set an equal weight rating for the company in a research note on Friday, August 11th. Citigroup upgraded shares of Six Flags Entertainment from a neutral rating to a buy rating and boosted their target price for the stock from $24.00 to $26.00 in a research note on Friday. KeyCorp decreased their price objective on shares of Six Flags Entertainment from $35.00 to $31.00 and set an overweight rating for the company in a research note on Friday, August 11th. Finally, Truist Financial decreased their target price on shares of Six Flags Entertainment from $22.00 to $20.00 and set a hold rating for the company in a research note on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $29.27.

Six Flags Entertainment Trading Down 3.0 %

Six Flags Entertainment stock opened at $23.26 on Friday. Six Flags Entertainment has a twelve month low of $18.29 and a twelve month high of $31.29. The stock’s fifty day simple moving average is $22.47 and its 200-day simple moving average is $24.01. The firm has a market capitalization of $1.94 billion, a P/E ratio of 26.13 and a beta of 2.09.

Six Flags Entertainment (NYSE:SIX) last issued its earnings results on Thursday, August 10th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.53). The firm had revenue of $443.71 million for the quarter, compared to analyst estimates of $465.25 million. Six Flags Entertainment had a negative return on equity of 9.50% and a net margin of 5.83%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. Sell-side analysts predict that Six Flags Entertainment will post 1.22 earnings per share for the current year.

Insider Activity

In related news, insider Aimee Williams-Ramey sold 11,630 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $24.45, for a total transaction of $284,353.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Six Flags Entertainment

A number of institutional investors have recently modified their holdings of SIX. BlackRock Inc. grew its position in shares of Six Flags Entertainment by 45.7% during the 3rd quarter. BlackRock Inc. now owns 9,918,652 shares of the company’s stock valued at $175,559,000 after buying an additional 3,108,978 shares during the last quarter. Land & Buildings Investment Management LLC grew its position in shares of Six Flags Entertainment by 189.5% during the 4th quarter. Land & Buildings Investment Management LLC now owns 2,601,473 shares of the company’s stock valued at $60,484,000 after buying an additional 1,702,783 shares during the last quarter. Clearbridge Investments LLC grew its position in Six Flags Entertainment by 242.2% in the 1st quarter. Clearbridge Investments LLC now owns 2,297,340 shares of the company’s stock worth $99,934,000 after purchasing an additional 1,625,966 shares during the last quarter. Simcoe Capital Management LLC bought a new position in Six Flags Entertainment in the 1st quarter worth about $41,748,000. Finally, BNP Paribas Arbitrage SNC grew its position in Six Flags Entertainment by 7,017.0% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 746,218 shares of the company’s stock worth $19,387,000 after purchasing an additional 735,733 shares during the last quarter. Institutional investors own 99.03% of the company’s stock.

About Six Flags Entertainment

Six Flags Entertainment Corporation owns and operates regional theme and waterparks under the Six Flags name. Its parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. The company also sells food, beverages, merchandise, and other products and services within its parks.