B.Riley FBR analyst Eric Wold reiterated a Buy rating on Six Flags (SIX) today and set a price target of $64. The company’s shares closed yesterday at $53.12.
Wold commented:
“Before the open this morning, 7/24, Six Flags Entertainment Corp. (SIX—Buy, $64 PT) reported 2Q19 results that came in ahead of our and consensus expectations from stronger-than- anticipated attendance and a continued shift in the to membership plans. Although there were some impacts to reported per capita spending figures from the inclusion of new parks into the base, we expect the attractive trends in these key metrics to resume in 2H19 on more normalized comparisons. We are reiterating our Buy rating and $64 PT with the shares also sporting an attractive 6.3% dividend yield. Management will be hosting a conference call this morning at 9:00am ET with a dial-in of (855) 889-1976.”
According to TipRanks.com, Wold has 0 stars on 0-5 star ranking scale with an average return of -7.8% and a 29.1% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Currently, the analyst consensus on Six Flags is a Strong Buy with an average price target of $60, implying a 13.0% upside from current levels. In a report issued on July 9, Wells Fargo also upgraded the stock to Buy with a $56 price target.
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Six Flags’ market cap is currently $4.48B and has a P/E ratio of 16.90. The company has a Price to Book ratio of -5.85.
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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.
