Morgan Stanley slashes price target on Six Flags Entertainment Corporation [SIX] – find out why.

Six Flags Entertainment Corporation [NYSE: SIX] gained 18.63% or 4.18 points to close at $26.62 with a heavy trading volume of 8009514 shares. The company report on May 8, 2023 at 6:00 AM that Six Flags Reports First Quarter 2023 Performance.

Six Flags Entertainment Corporation (NYSE: SIX), the world’s largest regional theme park company and the largest operator of water parks in North America, today reported first quarter Revenue of $142 million, Net Loss of $70 million, and an Adjusted EBITDA loss of $17 million.

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“We are pleased to have delivered record first quarter revenue and the second-highest first quarter Adjusted EBITDA in our company’s history, which we believe are proof points that our new strategy and our new culture are beginning to take hold,” said Selim Bassoul, President and CEO. “Looking ahead, our team is excited to launch numerous special events this summer, including Viva La Fiesta, Flavors of the World, Six Flags Fireworks Spectacular, and parades. These events, combined with exciting new rides and attractions and our focused investments in infrastructure, should help us deliver an enhanced guest experience this year. We are still in the early stages of our transformation, but with our season pass sales accelerating and our attendance improving, we are encouraged by our recent progress.”.

It opened the trading session at $27.03, the shares rose to $28.50 and dropped to $26.48, the range by which the price of stock traded the whole day. The daily chart for SIX points out that the company has recorded 27.00% gains over the past six months. However, it is still -58.17% lower than its most recent low trading price.

If we look at the average trading volume of 1.76M shares, SIX reached to a volume of 8009514 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Six Flags Entertainment Corporation [SIX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SIX shares is $31.27 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SIX stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Six Flags Entertainment Corporation shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on April 20, 2023. While these analysts kept the previous recommendation, Citigroup raised their target price from $27 to $30. The new note on the price target was released on March 03, 2023, representing the official price target for Six Flags Entertainment Corporation stock. On November 08, 2022, analysts decreased their price target for SIX shares from 32 to 24.

The Average True Range (ATR) for Six Flags Entertainment Corporation is set at 1.33, with the Price to Sales ratio for SIX stock in the period of the last 12 months amounting to 1.61. Price to Free Cash Flow for SIX in the course of the last twelve months was 14.36 with Quick ratio for the last quarter at 0.50.

Trading performance analysis for SIX stock

Six Flags Entertainment Corporation [SIX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.52. With this latest performance, SIX shares gained by 4.72% in over the last four-week period, additionally plugging by 27.00% over the last 6 months – not to mention a drop of -22.75% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SIX stock in for the last two-week period is set at 60.84, with the RSI for the last a single of trading hit 67.69, and the three-weeks RSI is set at 56.82 for Six Flags Entertainment Corporation [SIX]. The present Moving Average for the last 50 days of trading for this stock 25.39, while it was recorded at 23.44 for the last single week of trading, and 23.81 for the last 200 days.

Six Flags Entertainment Corporation [SIX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Six Flags Entertainment Corporation [SIX] shares currently have an operating margin of +27.92 and a Gross Margin at +39.86. Six Flags Entertainment Corporation’s Net Margin is presently recorded at +8.02.

Return on Total Capital for SIX is now 16.91, given the latest momentum, and Return on Invested Capital for the company is 6.56. Additionally, SIX Total Debt to Total Capital is recorded at 159.17, with Total Debt to Total Assets ending up at 95.92.

Reflecting on the efficiency of the workforce at the company, Six Flags Entertainment Corporation [SIX] managed to generate an average of $75,123 per employee. Receivables Turnover for the company is 18.46 with a Total Asset Turnover recorded at a value of 0.48.Six Flags Entertainment Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.60.

Six Flags Entertainment Corporation [SIX]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SIX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Six Flags Entertainment Corporation go to 6.07%.

An analysis of insider ownership at Six Flags Entertainment Corporation [SIX]

There are presently around $2,184 million, or 99.72% of SIX stock, in the hands of institutional investors. The top three institutional holders of SIX stocks are: H PARTNERS MANAGEMENT, LLC with ownership of 11,400,000, which is approximately 6.542% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 10,206,317 shares of the stock with an approximate value of $271.69 million in SIX stocks shares; and VANGUARD GROUP INC, currently with $228.98 million in SIX stock with ownership of nearly -2.048% of the company’s market capitalization.

Positions in Six Flags Entertainment Corporation stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 129 institutional holders increased their position in Six Flags Entertainment Corporation [NYSE:SIX] by around 13,035,923 shares. Additionally, 129 investors decreased positions by around 16,659,172 shares, while 55 investors held positions by with 52,339,127 shares. The mentioned changes placed institutional holdings at 82,034,222 shares, according to the latest SEC report filing. SIX stock had 53 new institutional investments in for a total of 6,052,797 shares, while 32 institutional investors sold positions of 7,441,762 shares during the same period.


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