Cedar Fair, L.P. (NYSE:FUN) was downgraded by stock analysts at Goldman Sachs Group, Inc. (The) from a “conviction-buy” rating to a “buy” rating in a research note issued on Wednesday, The Fly reports.

Several other research firms also recently commented on FUN. Stifel Nicolaus restated a “buy” rating and issued a $74.00 price target (down previously from $75.00) on shares of Cedar Fair, L.P. in a research note on Thursday, September 7th. Zacks Investment Research upgraded Cedar Fair, L.P. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 6th. FBR & Co reiterated a “buy” rating on shares of Cedar Fair, L.P. in a research note on Thursday, September 7th. KeyCorp reiterated an “overweight” rating and issued a $74.00 target price on shares of Cedar Fair, L.P. in a report on Wednesday, August 30th. Finally, BidaskClub lowered Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $74.22.

Cedar Fair, L.P. (NYSE:FUN) opened at 63.89 on Wednesday. The stock has a 50 day moving average price of $65.49 and a 200 day moving average price of $68.59. Cedar Fair, L.P. has a 52-week low of $56.23 and a 52-week high of $72.56. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 26.80 and a beta of 0.48.

Cedar Fair, L.P. (NYSE:FUN) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $405.78 million. Cedar Fair, L.P. had a return on equity of 1,048.17% and a net margin of 10.50%. Cedar Fair, L.P.’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 earnings per share. On average, equities analysts expect that Cedar Fair, L.P. will post $2.87 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Goldman Sachs Group, Inc. (The) Lowers Cedar Fair, L.P. (FUN) to Buy” was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another publication, it was copied illegally and republished in violation of United States and international copyright and trademark legislation. The original version of this report can be read at https://www.americanbankingnews.com/2017/10/04/goldman-sachs-group-inc-the-lowers-cedar-fair-l-p-fun-to-buy.html.

In related news, CEO Matthew A. Ouimet sold 3,000 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $66.80, for a total value of $200,400.00. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew A. Ouimet sold 9,100 shares of the stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $68.89, for a total value of $626,899.00. Following the completion of the transaction, the chief executive officer now directly owns 200,799 shares in the company, valued at approximately $13,833,043.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,100 shares of company stock valued at $957,099. Corporate insiders own 2.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Sheaff Brock Investment Advisors LLC boosted its position in shares of Cedar Fair, L.P. by 0.4% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 5,060 shares of the company’s stock worth $293,000 after acquiring an additional 18 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Cedar Fair, L.P. by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,065 shares of the company’s stock worth $509,000 after acquiring an additional 19 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Cedar Fair, L.P. by 0.7% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,084 shares of the company’s stock worth $222,000 after acquiring an additional 21 shares in the last quarter. MAI Capital Management raised its position in shares of Cedar Fair, L.P. by 0.5% during the 2nd quarter. MAI Capital Management now owns 4,670 shares of the company’s stock worth $337,000 after acquiring an additional 23 shares in the last quarter. Finally, Dynamic Advisors Solutions LLC raised its position in shares of Cedar Fair, L.P. by 1.2% during the 1st quarter. Dynamic Advisors Solutions LLC now owns 3,458 shares of the company’s stock worth $235,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 51.46% 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.

The Fly

Analyst Recommendations for Cedar Fair, L.P. (NYSE:FUN)

Receive News & Ratings for Cedar Fair L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cedar Fair L.P. and related companies with MarketBeat.com's FREE daily email newsletter.