Oppenheimer Keeps Their Buy Rating on Six Flags (SIX)


In a report released yesterday, Ian Zaffino from Oppenheimer maintained a Buy rating on Six Flags (SIX), with a price target of $63. The company’s shares closed yesterday at $52.37.

Zaffino wrote:

“In the seasonally slow 1Q, SIX delivered in-line adjusted EBITDA of ($32M), vs. our/Street’s ($31M)/($32M) estimates. Owing almost exclusively to the Easter shift (e.g., 200K guests or ~9% of attendance), revenues declined 1%. Revenue/capita increased 5% YoY. Easter shift, attendance would have mildly improved YoY. Separately, the active pass base increased 5% Easter shift. Maintain Outperform.”

According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 3.5% and a 55.1% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Hotels & Resorts Inc, and Wyndham Destinations Inc.

Currently, the analyst consensus on Six Flags is a Moderate Buy with an average price target of $56.25.

See today’s analyst top recommended stocks >>

Based on Six Flags’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $79.42 million. In comparison, last year the company had a GAAP net loss of $62.35 million.

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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