Cedar Fair, L.P. (FUN) Rating Reiterated by Stifel Nicolaus
Cedar Fair, L.P. (NYSE:FUN)‘s stock had its “buy” rating reissued by Stifel Nicolaus in a note issued to investors on Thursday. They currently have a $74.00 price objective on the stock, down from their previous price objective of $75.00. Stifel Nicolaus’ price target would suggest a potential upside of 16.87% from the stock’s current price.
Several other analysts have also weighed in on the company. Goldman Sachs Group, Inc. (The) raised Cedar Fair, L.P. from a “buy” rating to a “conviction-buy” rating and set a $81.00 price objective on the stock in a research note on Monday, June 19th. BidaskClub lowered Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Zacks Investment Research lowered Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. KeyCorp reaffirmed an “overweight” rating and issued a $74.00 price objective on shares of Cedar Fair, L.P. in a research note on Wednesday, August 30th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Cedar Fair, L.P. in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $74.22.
Cedar Fair, L.P. (NYSE:FUN) traded down 0.14% on Thursday, hitting $63.32. The company had a trading volume of 167,728 shares. 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. has a 12-month low of $56.23 and a 12-month high of $72.56. The firm has a market capitalization of $3.56 billion, a PE ratio of 26.56 and a beta of 0.50.
Cedar Fair, L.P. (NYSE:FUN) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.02 by $0.20. The business had revenue of $392.80 million during the quarter, compared to analyst estimates of $405.78 million. Cedar Fair, L.P. had a net margin of 10.50% and a return on equity of 1,048.17%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $1.03 earnings per share. On average, equities research analysts anticipate that Cedar Fair, L.P. will post $2.94 earnings per share for the current fiscal year.
In other Cedar Fair, L.P. news, CEO Matthew A. Ouimet sold 12,000 shares of the stock in a transaction dated Wednesday, June 21st. The stock was 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 in the company, valued at $14,759,688.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Klein bought 7,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was purchased at an average price of $66.13 per share, with a total value of $462,910.00. Following the completion of the transaction, the director now directly owns 24,960 shares of the company’s stock, valued at approximately $1,650,604.80. The disclosure for this purchase can be found here. Insiders sold 24,100 shares of company stock valued at $1,681,699 over the last quarter. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of FUN. Janus Henderson Group PLC bought a new position in Cedar Fair, L.P. in the second quarter valued at about $145,981,000. FMR LLC raised its position in Cedar Fair, L.P. by 42.9% in the second quarter. FMR LLC now owns 4,061,429 shares of the company’s stock valued at $292,829,000 after purchasing an additional 1,220,099 shares during the last quarter. Northwestern Mutual Investment Management Company LLC bought a new position in Cedar Fair, L.P. in the second quarter valued at about $31,274,000. OppenheimerFunds Inc. raised its position in Cedar Fair, L.P. by 8.5% in the first quarter. OppenheimerFunds Inc. now owns 2,140,592 shares of the company’s stock valued at $145,153,000 after purchasing an additional 166,891 shares during the last quarter. Finally, Global X Management Co. LLC bought a new position in Cedar Fair, L.P. in the first quarter valued at about $7,727,000. Hedge funds and other institutional investors own 51.53% of the company’s stock.
About Cedar Fair, L.P.
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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