.jpg "Six Flags (NYSE: SIX)")
In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on Six Flags (SIX), with a price target of $57. The company’s shares closed yesterday at $52.37.
Wold commented:
“After the close on Entertainment Corp. (SIX—Buy, $57 PT) reported 1Q19 results that demonstrated impressive gains in both per capita spending and the the face of a later Easter holiday compared to last year. Even with SIX shares moving higher by 7.0% since we assumed coverage with a Buy rating on 3/28 (vs. a gain of 4.6% for the S&P 500), we believe investors have recently focused too much on the delayed opening of the planned parks in China as opposed to the stronger underlying gains and economic hedge, in our opinion, of the company’s domestic parks. We are reiterating our Buy rating and $57 PT with the shares also sporting an attractive 6.3% dividend yield. Management will host a call to discuss the results Wednesday (4/24) morning at 9:00AM ET.”
According to TipRanks.com, Wold has 0 stars on 0-5 star ranking scale with an average return of -4.0% and a 40.8% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Six Flags with a $56.25 average price target, implying a 7.4% upside from current levels. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $63 price target.
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The company has a one-year high of $73.38 and a one-year low of $46.68. Currently, Six Flags has an average volume of 1.44M.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SIX in relation to earlier this year.
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Six Flags Entertainment Corp. engages in operating of theme parks. It operates under the brand name Six Flags, which offers state-of-the-art and traditional thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. The company was founded by Angus Wynne in 1961 and is headquartered in Grand Prairie, TX.
