In a report released yesterday, Ian Zaffino from Oppenheimer maintained a Buy rating on Six Flags (NYSE: SIX), with a price target of $80. The company’s shares closed yesterday at $66.98.
Zaffino commented:
“Management remains happy with the state of the consumer and has found customers more willing to commit to season passes and memberships. The value proposition of its product allows the company to raise prices and migrate members to higher paying tiers. Weather has been tough quarter-to-date, but comps ease later in the quarter, as last year was hurt by Day washout on the Mexican earthquake. Further, SIX should enjoy tailwinds from the extension of calendars at Magic Mountain and Chicago. Maintain Outperform.”
According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 3.6% and a 55.2% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Destinations Inc, and Peak Resorts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Six Flags with a $75.71 average price target.
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Six Flags’ market cap is currently $5.62B and has a P/E ratio of 19.76. The company has a Price to Book ratio of -8.44.
Based on the recent corporate insider activity of 49 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. Last month, James Reid-Anderson, the COB, Pres & CEO of SIX bought 125,000 shares for a total of $7,126,250.
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 the business of operating regional theme parks. It operates under the brand name Six Flags, which offers 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.
