Stifel Nicolaus reiterated their buy rating on shares of Cedar Fair, L.P. (NYSE:FUN) in a research note released on Thursday morning. Stifel Nicolaus currently has a $74.00 target price on the stock, down from their prior target price of $75.00.

A number of other brokerages have also commented on FUN. Goldman Sachs Group, Inc. (The) reissued a buy rating and set a $81.00 price objective on shares of Cedar Fair, L.P. in a report on Tuesday, July 4th. BidaskClub lowered Cedar Fair, L.P. from a buy rating to a hold rating in a report on Tuesday, June 27th. Zacks Investment Research raised Cedar Fair, L.P. from a hold rating to a buy rating and set a $78.00 price objective for the company in a report on Wednesday, July 12th. KeyCorp reissued an overweight rating and set a $74.00 price objective on shares of Cedar Fair, L.P. in a report on Wednesday, August 30th. Finally, FBR & Co reissued a buy rating on shares of Cedar Fair, L.P. in a report on Thursday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Cedar Fair, L.P. has a consensus rating of Buy and a consensus target price of $74.22.

Cedar Fair, L.P. (NYSE FUN) opened at 63.32 on Thursday. Cedar Fair, L.P. has a 1-year low of $56.23 and a 1-year high of $72.56. The company has a market capitalization of $3.56 billion, a P/E ratio of 26.56 and a beta of 0.50. The firm has a 50-day moving average price of $66.90 and a 200-day moving average price of $69.00.

Cedar Fair, L.P. (NYSE:FUN) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by $0.20. The company had revenue of $392.80 million for the quarter, compared to the consensus estimate of $405.78 million. Cedar Fair, L.P. had a return on equity of 1,048.17% and a net margin of 10.50%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. On average, analysts forecast that Cedar Fair, L.P. will post $2.90 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, September 6th will be issued a $0.855 dividend. This represents a $3.42 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend is Friday, September 1st. Cedar Fair, L.P.’s dividend payout ratio is presently 144.30%.

In other news, CEO Matthew A. Ouimet sold 9,100 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $68.89, for a total value of $626,899.00. Following the completion of the transaction, the chief executive officer now directly owns 200,799 shares of the company’s stock, valued at $13,833,043.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew A. Ouimet sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $71.20, for a total value of $854,400.00. Following the completion of the transaction, the chief executive officer now directly owns 207,299 shares of the company’s stock, valued at $14,759,688.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,100 shares of company stock valued at $1,681,699. 2.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in shares of Cedar Fair, L.P. in the first quarter valued at approximately $102,000. Solaris Asset Management LLC grew its holdings in shares of Cedar Fair, L.P. by 8.4% in the second quarter. Solaris Asset Management LLC now owns 1,545 shares of the company’s stock valued at $111,000 after acquiring an additional 120 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Cedar Fair, L.P. in the second quarter valued at approximately $123,000. The Manufacturers Life Insurance Company grew its holdings in shares of Cedar Fair, L.P. by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,718 shares of the company’s stock valued at $124,000 after acquiring an additional 108 shares in the last quarter. Finally, Peddock Capital Advisors LLC bought a new position in shares of Cedar Fair, L.P. in the second quarter valued at approximately $144,000. 51.53% of the stock is owned by institutional investors.

Cedar Fair, L.P. Company Profile

Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.

Analyst Recommendations for Cedar Fair, L.P. (NYSE:FUN)

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