Six Flags Entertainment (NYSE:FUN) Given New $24.00 Price Target at JPMorgan Chase & Co.

Six Flags Entertainment (NYSE:FUN) had its price objective reduced by JPMorgan Chase & Co. from $33.00 to $24.00 in a report issued on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other research analysts have also commented on the company. Barclays cut their price objective on Six Flags Entertainment from $40.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Mizuho decreased their price objective on Six Flags Entertainment from $36.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Morgan Stanley decreased their price objective on Six Flags Entertainment from $47.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Wall Street Zen cut Six Flags Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. Finally, The Goldman Sachs Group dropped their price objective on Six Flags Entertainment from $30.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.50.

Six Flags Entertainment Price Performance

Shares of NYSE:FUN opened at $26.69 on Thursday. The stock has a market cap of $2.70 billion, a PE ratio of -5.50 and a beta of 0.82. Six Flags Entertainment has a 1-year low of $21.44 and a 1-year high of $49.77. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 2.97. The stock’s fifty day simple moving average is $30.02 and its two-hundred day simple moving average is $34.99.

Six Flags Entertainment (NYSE:FUN) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.53). Six Flags Entertainment had a negative net margin of 14.92% and a negative return on equity of 1.00%. The firm had revenue of $930.39 million during the quarter, compared to the consensus estimate of $999.82 million. The business’s quarterly revenue was up 62.8% on a year-over-year basis. As a group, analysts forecast that Six Flags Entertainment will post 0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 boosted its holdings in Six Flags Entertainment by 1,179.0% during the 2nd quarter. Allworth Financial LP now owns 1,522 shares of the company’s stock valued at $46,000 after acquiring an additional 1,403 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Six Flags Entertainment by 96.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,800 shares of the company’s stock worth $55,000 after buying an additional 884 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Six Flags Entertainment by 26.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,830 shares of the company’s stock worth $86,000 after buying an additional 586 shares during the period. Finally, ORG Wealth Partners LLC raised its position in shares of Six Flags Entertainment by 45.8% in the 2nd quarter. ORG Wealth Partners LLC now owns 3,188 shares of the company’s stock worth $102,000 after acquiring an additional 1,002 shares in the last quarter. Institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Company Profile

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.