Cedar Fair, L.P. (FUN) Stock Rating Reaffirmed by B. Riley
Cedar Fair, L.P. (NYSE:FUN)‘s stock had its “buy” rating reissued by stock analysts at B. Riley in a note issued to investors on Friday.
Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $78.00 price objective on shares of Cedar Fair, L.P. in a report on Friday, July 7th. KeyCorp reiterated an “overweight” rating and issued a $74.00 price objective on shares of Cedar Fair, L.P. in a report on Wednesday, August 30th. BidaskClub upgraded shares of Cedar Fair, L.P. from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded shares of 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. Finally, FBR & Co restated a “buy” rating on shares of Cedar Fair, L.P. in a report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $74.38.
Cedar Fair, L.P. (NYSE:FUN) traded up $0.45 during midday trading on Friday, hitting $66.38. 108,961 shares of the stock were exchanged, compared to its average volume of 138,524. Cedar Fair, L.P. has a 1-year low of $58.05 and a 1-year high of $72.56. The company has a debt-to-equity ratio of 22.05, a current ratio of 1.18 and a quick ratio of 1.06. The firm has a market capitalization of $3,720.00, a P/E ratio of 22.35, a PEG ratio of 3.88 and a beta of 0.51.
Cedar Fair, L.P. (NYSE:FUN) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $3.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.56 by ($0.18). The company had revenue of $652.69 million during the quarter, compared to analyst estimates of $652.98 million. Cedar Fair, L.P. had a return on equity of 2,430.22% and a net margin of 11.75%. The company’s revenue was up .4% compared to the same quarter last year. During the same period last year, the company posted $3.10 earnings per share. analysts anticipate that Cedar Fair, L.P. will post 2.83 EPS for the current fiscal year.
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In related news, CEO Matthew A. Ouimet sold 3,000 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $66.80, for a total value of $200,400.00. Following the completion of the transaction, the chief executive officer now owns 195,199 shares of the company’s stock, valued at $13,039,293.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew A. Ouimet sold 2,000 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $64.90, for a total transaction of $129,800.00. Following the completion of the transaction, the chief executive officer now directly owns 193,199 shares of the company’s stock, valued at approximately $12,538,615.10. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Global X MANAGEMENT CO LLC raised its position in Cedar Fair, L.P. by 3.4% in the third quarter. Global X MANAGEMENT CO LLC now owns 124,393 shares of the company’s stock worth $7,976,000 after purchasing an additional 4,083 shares in the last quarter. Brown Advisory Securities LLC increased its holdings in shares of Cedar Fair, L.P. by 26.3% during the third quarter. Brown Advisory Securities LLC now owns 4,259 shares of the company’s stock worth $273,000 after buying an additional 887 shares in the last quarter. Keybank National Association OH increased its holdings in shares of Cedar Fair, L.P. by 1.4% during the third quarter. Keybank National Association OH now owns 107,390 shares of the company’s stock worth $6,886,000 after buying an additional 1,500 shares in the last quarter. Csenge Advisory Group acquired a new stake in shares of Cedar Fair, L.P. during the third quarter worth approximately $1,130,000. Finally, Huntington National Bank increased its holdings in shares of Cedar Fair, L.P. by 8.4% during the third quarter. Huntington National Bank now owns 11,131 shares of the company’s stock worth $714,000 after buying an additional 866 shares in the last quarter. 51.55% of the stock is owned by hedge funds and other 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.
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