Cedar Fair, L.P. (FUN) Given Average Recommendation of “Buy” by Brokerages
Cedar Fair, L.P. (NYSE:FUN) has earned an average rating of “Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $61.20.
A number of research analysts have commented on the company. Zacks Investment Research upgraded Cedar Fair from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Wednesday, January 16th. TheStreet upgraded Cedar Fair from a “c+” rating to a “b-” rating in a research note on Thursday, January 31st. Finally, B. Riley set a $60.00 price objective on Cedar Fair and gave the company a “buy” rating in a research note on Wednesday, May 8th.
NYSE:FUN traded up $0.22 during trading hours on Thursday, reaching $53.00. 2,596 shares of the stock were exchanged, compared to its average volume of 204,283. The company has a quick ratio of 0.72, a current ratio of 0.63 and a debt-to-equity ratio of 51.13. Cedar Fair has a twelve month low of $45.73 and a twelve month high of $67.35. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 2.69 and a beta of 0.57.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, June 4th will be issued a $0.925 dividend. This represents a $3.70 annualized dividend and a yield of 6.98%. The ex-dividend date is Monday, June 3rd. Cedar Fair’s dividend payout ratio (DPR) is presently 122.52%.
Large investors have recently bought and sold shares of the stock. Capital Investment Advisory Services LLC increased its holdings in Cedar Fair by 66.7% in the first quarter. Capital Investment Advisory Services LLC now owns 500 shares of the company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Synovus Financial Corp purchased a new position in Cedar Fair in the first quarter valued at $32,000. Trustcore Financial Services LLC purchased a new position in Cedar Fair in the first quarter valued at $34,000. Horan Capital Advisors LLC. purchased a new position in Cedar Fair in the first quarter valued at $37,000. Finally, PRW Wealth Management LLC purchased a new position in Cedar Fair in the fourth quarter valued at $34,000. 51.25% of the stock is currently owned by hedge funds and other institutional investors.
About Cedar Fair
Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.
See Also: Moving Average (MA)
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