Cedar Fair (FUN) Given a $77.00 Price Target by KeyCorp Analysts

Cedar Fair (NYSE:FUN) has been given a $77.00 price target by equities researchers at KeyCorp in a report issued on Wednesday. The brokerage currently has a “buy” rating on the stock. KeyCorp’s price objective points to a potential upside of 14.31% from the company’s current price.

Several other brokerages have also weighed in on FUN. Zacks Investment Research lowered shares of Cedar Fair from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. B. Riley reissued a “buy” rating on shares of Cedar Fair in a research report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Cedar Fair presently has an average rating of “Buy” and an average target price of $74.00.

Shares of Cedar Fair (NYSE:FUN) traded up $0.72 on Wednesday, hitting $67.36. 90,083 shares of the stock traded hands, compared to its average volume of 126,785. The company has a market capitalization of $3,728.58, a price-to-earnings ratio of 25.42, a PEG ratio of 3.28 and a beta of 0.45. Cedar Fair has a 52 week low of $59.66 and a 52 week high of $72.56. The company has a debt-to-equity ratio of 22.05, a current ratio of 1.18 and a quick ratio of 1.06.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.79. The company had revenue of $228.20 million for the quarter, compared to analyst estimates of $222.34 million. Cedar Fair had a net margin of 11.75% and a return on equity of 2,430.22%. The company’s revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) earnings per share. sell-side analysts expect that Cedar Fair will post 3 EPS for the current year.

In related news, insider Matthew A. Ouimet sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $64.69, for a total transaction of $129,380.00. Following the transaction, the insider now directly owns 243,057 shares of the company’s stock, valued at $15,723,357.33. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew A. Ouimet sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $67.91, for a total transaction of $407,460.00. Following the transaction, the chief executive officer now directly owns 215,353 shares in the company, valued at $14,624,622.23. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in FUN. Ffcm LLC bought a new position in Cedar Fair during the third quarter worth about $109,000. Advisory Services Network LLC increased its position in Cedar Fair by 10.7% during the second quarter. Advisory Services Network LLC now owns 1,660 shares of the company’s stock worth $120,000 after acquiring an additional 160 shares during the period. The Manufacturers Life Insurance Company increased its position in Cedar Fair by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,718 shares of the company’s stock worth $124,000 after acquiring an additional 108 shares during the period. Santori & Peters Inc. bought a new position in Cedar Fair during the fourth quarter worth about $210,000. Finally, Clarus Wealth Advisors bought a new position in Cedar Fair during the fourth quarter worth about $213,000. 49.39% of the stock is currently owned by institutional investors and hedge funds.

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About Cedar Fair

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.

Analyst Recommendations for Cedar Fair (NYSE:FUN)

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