Cedar Fair, L.P. (NYSE:FUN) Receives Average Rating of “Moderate Buy” from Analysts

Cedar Fair, L.P. (NYSE:FUN) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $57.91.

FUN has been the subject of a number of research analyst reports. Mizuho reduced their price objective on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Oppenheimer upped their price objective on Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Morgan Stanley lifted their target price on Cedar Fair from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, July 1st. B. Riley decreased their price target on shares of Cedar Fair from $77.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Macquarie dropped their price objective on shares of Cedar Fair from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, August 9th.

Cedar Fair Price Performance

Shares of Cedar Fair stock opened at $41.46 on Monday. The business has a fifty day simple moving average of $44.71 and a two-hundred day simple moving average of $44.44. Cedar Fair has a 1 year low of $34.04 and a 1 year high of $58.70. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 17.06 and a beta of 1.55.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. The company had revenue of $571.62 million during the quarter, compared to analysts’ expectations of $525.57 million. As a group, equities analysts anticipate that Cedar Fair will post 2.78 earnings per share for the current fiscal year.

Institutional Trading of Cedar Fair

Several large investors have recently made changes to their positions in FUN. Goldman Sachs Group Inc. boosted its holdings in shares of Cedar Fair by 15.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after purchasing an additional 539,352 shares in the last quarter. UBS Group AG boosted its stake in Cedar Fair by 313.7% in the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock valued at $121,274,000 after buying an additional 2,310,565 shares in the last quarter. Brown Advisory Inc. boosted its stake in Cedar Fair by 1.1% in the fourth quarter. Brown Advisory Inc. now owns 94,486 shares of the company’s stock valued at $3,761,000 after buying an additional 1,000 shares in the last quarter. Torno Capital LLC bought a new position in Cedar Fair in the second quarter valued at about $4,413,000. Finally, HAP Trading LLC acquired a new position in Cedar Fair during the first quarter worth about $1,329,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Cedar Fair Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.