Cedar Fair, L.P. (FUN) Given Average Rating of “Buy” by Analysts
Shares of Cedar Fair, L.P. (NYSE:FUN) have been given a consensus rating of “Buy” by the nine research firms that are presently covering the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $66.67.
FUN has been the topic of a number of analyst reports. Wedbush cut Cedar Fair, L.P. from an “outperform” rating to a “neutral” rating in a research report on Friday, September 23rd. Credit Suisse Group AG set a $67.00 price target on Cedar Fair, L.P. and gave the company a “buy” rating in a research report on Monday, September 12th. Janney Montgomery Scott restated a “buy” rating and set a $68.00 target price on shares of Cedar Fair, L.P. in a report on Thursday, September 1st. Macquarie upgraded Cedar Fair, L.P. from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $60.00 to $65.00 in a report on Friday, July 8th. Finally, Zacks Investment Research cut Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a report on Monday, October 10th.
In related news, CAO David R. Hoffman sold 7,043 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $60.63, for a total value of $427,017.09. Following the transaction, the chief accounting officer now owns 36,611 shares in the company, valued at $2,219,724.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Milkie Duffield sold 6,374 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $60.84, for a total value of $387,794.16. Following the completion of the transaction, the vice president now owns 56,550 shares in the company, valued at approximately $3,440,502. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of the stock. 1832 Asset Management L.P. boosted its position in Cedar Fair, L.P. by 191.9% in the first quarter. 1832 Asset Management L.P. now owns 128,733 shares of the company’s stock valued at $12,934,000 after buying an additional 84,625 shares in the last quarter. BB&T Securities LLC bought a new position in Cedar Fair, L.P. during the first quarter valued at $205,000. UBS Group AG raised its position in Cedar Fair, L.P. by 8.5% in the first quarter. UBS Group AG now owns 68,273 shares of the company’s stock valued at $4,059,000 after buying an additional 5,336 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in Cedar Fair, L.P. during the first quarter valued at $172,000. Finally, Renaissance Technologies LLC raised its position in Cedar Fair, L.P. by 38.7% in the first quarter. Renaissance Technologies LLC now owns 303,150 shares of the company’s stock valued at $18,022,000 after buying an additional 84,600 shares during the last quarter.
Shares of Cedar Fair, L.P. (NYSE:FUN) traded up 1.02% during midday trading on Monday, reaching $57.50. 90,015 shares of the company’s stock traded hands. The firm has a market capitalization of $3.22 billion, a P/E ratio of 22.05 and a beta of 0.72. Cedar Fair, L.P. has a 52-week low of $48.46 and a 52-week high of $63.40. The stock’s 50 day moving average price is $58.48 and its 200 day moving average price is $58.84.
Cedar Fair, L.P. (NYSE:FUN) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by $0.04. The business earned $388 million during the quarter, compared to analysts’ expectations of $390.43 million. During the same quarter last year, the business earned $1.02 EPS. Cedar Fair, L.P.’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts anticipate that Cedar Fair, L.P. will post $3.64 EPS for the current fiscal year.
About Cedar Fair, L.P.
Cedar Fair, L.P. is an operator of regional amusement parks. The Company owns approximately 10 amusement parks, three outdoor water parks, an indoor water park and five hotels. The Company operates through amusement/water parks with accompanying resort facilities segment. Its amusement parks include Cedar Point, located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Kings Island near Cincinnati, Ohio; Canada’s Wonderland near Toronto, Canada; Dorney Park & Wildwater Kingdom (Dorney Park), located near Allentown in South Whitehall Township, Pennsylvania; Valleyfair, located near Minneapolis/St.
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