Six Flags Entertainment (SIX) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Six Flags Entertainment (NYSE:SIX) from a hold rating to a buy rating in a research note released on Tuesday morning. They currently have $74.00 target price on the stock.

According to Zacks, “Six Flags Entertainment Corporation owns and operates regional parks. The Company has parks comprised of theme, water and zoological parks offering rides, water attractions, themed areas, concerts, shows, restaurants, game venues and retail outlets. The Company holds long-term licenses for theme park usage throughout the United States (except the Las Vegas metropolitan area), Canada, Mexico and other countries of certain Warner Bros. and DC Comics characters. These characters include Bugs Bunny, Daffy Duck, Tweety Bird, Yosemite Sam, Batman, Superman and others. In addition, it has certain rights to use the Hanna-Barbera and Cartoon Network characters, including Yogi Bear, Scooby-Doo, The Flintstones and others. The Company uses these characters to market its parks and to provide an enhanced family entertainment experience. Six Flags Entertainment Corporation is based in New York, NY. “

Several other brokerages have also recently weighed in on SIX. TheStreet raised shares of Six Flags Entertainment from a c+ rating to a b- rating in a research report on Wednesday, October 25th. SunTrust Banks reissued a buy rating and set a $70.00 price target on shares of Six Flags Entertainment in a research report on Friday, October 27th. FBR & Co reissued a buy rating on shares of Six Flags Entertainment in a research report on Wednesday, October 25th. Wedbush set a $76.00 price objective on shares of Six Flags Entertainment and gave the company a buy rating in a report on Monday, January 8th. Finally, B. Riley restated a buy rating on shares of Six Flags Entertainment in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Six Flags Entertainment currently has a consensus rating of Buy and an average price target of $68.10.

Six Flags Entertainment (NYSE:SIX) opened at $64.00 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of -3.53. The firm has a market cap of $5,447.75, a PE ratio of 30.62, a PEG ratio of 3.47 and a beta of 1.15. Six Flags Entertainment has a 1 year low of $51.25 and a 1 year high of $69.99.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Monday, February 19th will be issued a $0.78 dividend. This is a positive change from Six Flags Entertainment’s previous quarterly dividend of $0.70. This represents a $3.12 annualized dividend and a yield of 4.88%. The ex-dividend date is Thursday, February 15th. Six Flags Entertainment’s payout ratio is 133.97%.

In related news, CEO James Reid-Anderson sold 1,000 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $66.25, for a total value of $66,250.00. Following the sale, the chief executive officer now directly owns 3,461,778 shares in the company, valued at approximately $229,342,792.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 240,131 shares of company stock worth $16,038,385. 6.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its stake in Six Flags Entertainment by 9.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 16,775 shares of the company’s stock worth $1,000,000 after purchasing an additional 1,421 shares during the period. Legal & General Group Plc increased its stake in Six Flags Entertainment by 82.6% during the third quarter. Legal & General Group Plc now owns 87,753 shares of the company’s stock worth $5,348,000 after purchasing an additional 39,689 shares during the period. Emerald Advisers Inc. PA increased its stake in Six Flags Entertainment by 8.0% during the third quarter. Emerald Advisers Inc. PA now owns 36,162 shares of the company’s stock worth $2,204,000 after purchasing an additional 2,668 shares during the period. Cambridge Trust Co. increased its stake in Six Flags Entertainment by 95.8% during the third quarter. Cambridge Trust Co. now owns 237,006 shares of the company’s stock worth $14,444,000 after purchasing an additional 115,970 shares during the period. Finally, BT Investment Management Ltd purchased a new stake in Six Flags Entertainment during the third quarter worth about $262,000. Hedge funds and other institutional investors own 99.90% of the company’s stock.

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About Six Flags Entertainment

Six Flags Entertainment Corporation (Six Flags) is a regional theme park operator. The Company operates in the theme parks segment. The Company operates approximately 19 regional theme and water parks. Its parks occupy approximately 4,500 acres of land. Its parks are located in geographically diverse markets across North America.

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