Cedar Fair, L.P. (NYSE:FUN) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Monday, July 31st.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Cedar Fair, L.P. from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Wednesday, July 12th. Stifel Nicolaus restated a “buy” rating and issued a $78.00 price target on shares of Cedar Fair, L.P. in a report on Friday, July 7th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $81.00 price target on shares of Cedar Fair, L.P. in a report on Tuesday, July 4th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Cedar Fair, L.P. in a report on Wednesday, April 12th. They issued a “hold” rating and a $72.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $74.75.
Shares of Cedar Fair, L.P. (FUN) opened at 64.38 on Monday. The stock has a 50 day moving average of $69.15 and a 200-day moving average of $68.62. The firm has a market capitalization of $3.62 billion, a P/E ratio of 27.01 and a beta of 0.50. Cedar Fair, L.P. has a 52-week low of $56.23 and a 52-week high of $72.56.
Cedar Fair, L.P. (NYSE:FUN) last issued its earnings results on Wednesday, August 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.02 by $0.20. Cedar Fair, L.P. had a return on equity of 1,048.17% and a net margin of 10.50%. The business had revenue of $392.80 million for the quarter, compared to the consensus estimate of $405.78 million. During the same quarter in the previous year, the company earned $1.03 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. Equities analysts expect that Cedar Fair, L.P. will post $3.00 earnings per share for the current fiscal year.
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In other Cedar Fair, L.P. news, Director Thomas Klein bought 7,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were bought at an average price of $66.13 per share, with a total value of $462,910.00. Following the purchase, the director now directly owns 24,960 shares in the company, valued at approximately $1,650,604.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew A. Ouimet sold 12,000 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $71.20, for a total transaction of $854,400.00. Following the transaction, the chief executive officer now directly owns 207,299 shares in the company, valued at approximately $14,759,688.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,100 shares of company stock valued at $2,533,549. Insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kornitzer Capital Management Inc. KS boosted its position in shares of Cedar Fair, L.P. by 3.8% in the first quarter. Kornitzer Capital Management Inc. KS now owns 6,775 shares of the company’s stock valued at $459,000 after buying an additional 250 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Cedar Fair, L.P. during the first quarter valued at about $102,000. IFP Advisors Inc raised its stake in shares of Cedar Fair, L.P. by 3.2% in the first quarter. IFP Advisors Inc now owns 7,188 shares of the company’s stock valued at $487,000 after buying an additional 221 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Cedar Fair, L.P. by 4.9% in the first quarter. Janney Montgomery Scott LLC now owns 5,370 shares of the company’s stock valued at $364,000 after buying an additional 250 shares during the period. Finally, River Road Asset Management LLC raised its stake in shares of Cedar Fair, L.P. by 8.3% in the first quarter. River Road Asset Management LLC now owns 602,213 shares of the company’s stock valued at $40,836,000 after buying an additional 45,983 shares during the period. 51.77% of the stock is currently owned by hedge funds and other institutional investors.
Cedar Fair, L.P. Company Profile
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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