SeaWorld Stock Slips, Slides Away
A rough year for SeaWorld Entertainment (NYSE: SEAS) investors is getting even bumpier. Shares of the theme park operator traded lower on Thursday after an analyst downgrade. SeaWorld stock was already trading 21% lower year to date before Thursday's drop.
Matthew Brooks at Macquarie is lowering his rating on the shares from outperform to neutral. The downgrade is accompanied by a lower price target, as Brooks is slashing his goal on the shares from $22 to $15. Brooks feels that the potential turnaround is taking too long to materialize, and judging by the stock's languishing return in recent months, it's safe to say that he's not alone.
Image source: SeaWorld Entertainment.
Source: Fool.com