Cedar Fair, L.P. (FUN) Given Average Rating of “Buy” by Analysts
Cedar Fair, L.P. (NYSE:FUN) has earned a consensus recommendation of “Buy” from the nine analysts that are covering the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $66.67.
A number of equities research analysts recently weighed in on the company. Macquarie upgraded Cedar Fair, L.P. from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $65.00 in a research report on Friday, July 8th. Credit Suisse Group AG restated a “buy” rating and set a $67.00 price objective on shares of Cedar Fair, L.P. in a research report on Tuesday, October 4th. Wedbush lowered Cedar Fair, L.P. from an “outperform” rating to a “neutral” rating in a research report on Friday, September 23rd. Zacks Investment Research lowered Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Finally, FBR & Co restated a “buy” rating and set a $68.00 price objective (up previously from $60.00) on shares of Cedar Fair, L.P. in a research report on Friday, July 15th.
In related news, CAO David R. Hoffman sold 7,043 shares of the company’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $60.63, for a total transaction of $427,017.09. Following the sale, the chief accounting officer now owns 36,611 shares in the company, valued at approximately $2,219,724.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Milkie Duffield sold 6,374 shares of the company’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 sale, 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.
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Several large investors have recently made changes to their positions in FUN. Concert Wealth Management Inc. acquired a new stake in shares of Cedar Fair, L.P. during the second quarter valued at approximately $216,000. Huntington National Bank raised its stake in shares of Cedar Fair, L.P. by 1.7% in the second quarter. Huntington National Bank now owns 3,745 shares of the company’s stock valued at $217,000 after buying an additional 62 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Cedar Fair, L.P. by 13.9% in the second quarter. American Century Companies Inc. now owns 87,122 shares of the company’s stock valued at $5,037,000 after buying an additional 10,665 shares during the last quarter. Boston Advisors LLC raised its stake in shares of Cedar Fair, L.P. by 0.5% in the second quarter. Boston Advisors LLC now owns 19,323 shares of the company’s stock valued at $1,117,000 after buying an additional 103 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Cedar Fair, L.P. during the second quarter valued at approximately $3,232,000.
Cedar Fair, L.P. (NYSE:FUN) traded up 1.02% during midday trading on Monday, hitting $57.50. The stock had a trading volume of 90,015 shares. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 22.05 and a beta of 0.72. The company’s 50 day moving average price is $58.48 and its 200-day moving average price is $58.84. Cedar Fair, L.P. has a 52 week low of $48.46 and a 52 week high of $63.40.
Cedar Fair, L.P. (NYSE:FUN) last issued its quarterly earnings data 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 company earned $388 million during the quarter, compared to analyst estimates of $390.43 million. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 EPS. Equities analysts anticipate that Cedar Fair, L.P. will post $3.64 earnings per share for the current fiscal year.
Cedar Fair, L.P. Company Profile
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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