Credit Suisse Group initiated coverage on shares of Six Flags Entertainment (NYSE:SIX) in a report issued on Thursday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $16.00 price target on the stock. Credit Suisse Group’s price target points to a potential downside of 32.03% from the company’s previous close.

SIX has been the subject of a number of other reports. Oppenheimer downgraded Six Flags Entertainment from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 18th. Berenberg Bank reissued a “hold” rating and issued a $14.00 target price on shares of Six Flags Entertainment in a research report on Wednesday, April 8th. Macquarie raised Six Flags Entertainment from a “neutral” rating to an “outperform” rating and set a $29.00 target price for the company in a research report on Monday, May 4th. Zacks Investment Research raised Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Finally, Raymond James raised Six Flags Entertainment to a “buy” rating and set a $20.00 target price for the company in a research report on Wednesday, March 18th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $23.88.

Six Flags Entertainment stock traded up $0.45 during mid-day trading on Thursday, reaching $23.54. 2,184,272 shares of the company’s stock were exchanged, compared to its average volume of 4,621,903. The business’s fifty day simple moving average is $17.23 and its 200 day simple moving average is $31.41. Six Flags Entertainment has a one year low of $8.75 and a one year high of $59.52. The firm has a market capitalization of $1.96 billion, a PE ratio of 11.26 and a beta of 2.20.

Six Flags Entertainment (NYSE:SIX) last released its earnings results on Thursday, April 30th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.11) by $0.11. Six Flags Entertainment had a negative return on equity of 23.63% and a net margin of 11.19%. The business had revenue of $102.50 million during the quarter, compared to the consensus estimate of $99.75 million. During the same period last year, the business posted ($0.82) earnings per share. The business’s revenue for the quarter was down 20.0% on a year-over-year basis. As a group, equities research analysts anticipate that Six Flags Entertainment will post -1.73 earnings per share for the current year.

In other Six Flags Entertainment news, Director Arik W. Ruchim bought 600,000 shares of Six Flags Entertainment stock in a transaction that occurred on Monday, February 24th. The stock was acquired at an average cost of $30.88 per share, for a total transaction of $18,528,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mike Spanos bought 16,075 shares of Six Flags Entertainment stock in a transaction that occurred on Monday, February 24th. The shares were acquired at an average price of $31.27 per share, with a total value of $502,665.25. Following the completion of the transaction, the chief executive officer now owns 70,456 shares of the company’s stock, valued at $2,203,159.12. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 1,494,016 shares of company stock valued at $41,264,882. 0.97% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Security National Trust Co. bought a new stake in Six Flags Entertainment during the fourth quarter worth about $27,000. FSA Wealth Management LLC bought a new stake in Six Flags Entertainment during the fourth quarter worth about $30,000. Northwestern Mutual Wealth Management Co. lifted its stake in Six Flags Entertainment by 83.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 989 shares of the company’s stock worth $45,000 after purchasing an additional 450 shares during the last quarter. Synovus Financial Corp bought a new stake in Six Flags Entertainment during the fourth quarter worth about $55,000. Finally, Citizens Financial Group Inc RI lifted its stake in Six Flags Entertainment by 1,792.5% during the fourth quarter. Citizens Financial Group Inc RI now owns 1,268 shares of the company’s stock worth $57,000 after purchasing an additional 1,201 shares during the last quarter. Institutional investors and hedge funds own 75.42% of the company’s stock.

Six Flags Entertainment Company Profile

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.

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Analyst Recommendations for Six Flags Entertainment (NYSE:SIX)

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