Six Flags (SIX) Gets a Buy Rating from Oppenheimer


In a report released today, Ian Zaffino from Oppenheimer maintained a Buy rating on Six Flags (SIX), with a price target of $63. The company’s shares opened today at $55.36.

Zaffino wrote:

“In another quarter that exhibited little organic growth, despite favorable weather and more operating days, SIX reported lower-than-expected results. Revenues of $269.5M missed our/Street’s $281.7M/$283.5M, while EBITDA of $95.4M fell short of our/Street’s $99.6M/$98.5M. Attendance improved just 3%, despite 20% more operating days. Consistent with our concerns that a poor microenvironment in China would impact International, SIX took a $15M hit related to opening delays. Despite the weak quarter, the company has several tailwinds through 3Q19, including more operating days, the addition of EPR and favorable weather comps. We reduce FY2019E EBITDA to $586M from $595M and price target to $63 from $68.”

According to TipRanks.com, Zaffino is a 3-star analyst with an average return of 0.7% and a 52.2% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Hotels & Resorts Inc, and frontdoor inc.

Six Flags has an analyst consensus of Strong Buy, with a price target consensus of $70.

See today’s analyst top recommended stocks >>

Based on Six Flags’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $184 million. In comparison, last year the company had a net profit of $98.01 million.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts