Cedar Fair, L.P. Upgraded by Zacks to Outperform (FUN)
Cedar Fair, L.P. (NYSE:FUN) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Tuesday, American Banking News reports. The firm currently has a $46.70 target price on the stock. Zacks‘ price target would indicate a potential upside of 6.18% from the stock’s previous close.
Shares of Cedar Fair, L.P. (NYSE:FUN) traded up 0.87% during mid-day trading on Tuesday, hitting $43.98. The stock had a trading volume of 183,712 shares. Cedar Fair, L.P. has a 52-week low of $30.90 and a 52-week high of $44.49. The stock’s 50-day moving average is $43.60 and its 200-day moving average is $41.98. The company has a market cap of $2.450 billion and a P/E ratio of 35.33.
Cedar Fair, L.P. (NYSE:FUN) last announced its earnings results on Thursday, August 8th. The company reported $0.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.82 by $0.03. The company had revenue of $403.40 million for the quarter, compared to the consensus estimate of $360.00 million. During the same quarter last year, the company posted $0.65 earnings per share. Cedar Fair, L.P.’s revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that Cedar Fair, L.P. will post $1.93 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on FUN. Analysts at TheStreet upgraded shares of Cedar Fair, L.P. (NYSE:FUN) from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, August 20th. Analysts at Thomson Reuters/Verus initiated coverage on shares of Cedar Fair, L.P. (NYSE:FUN) in a research note to investors on Monday, August 5th. They set a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $46.70.
Cedar Fair, L.P. is a limited partnership managed by Cedar Fair Management, Inc (NYSE:FUN).
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