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

Shares of Cedar Fair, L.P. (NYSE:FUN) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $57.92.

FUN has been the topic of several recent analyst reports. The Goldman Sachs Group cut their target price on Cedar Fair from $63.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. B. Riley reduced their price target on shares of Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Citigroup dropped their target price on Cedar Fair from $61.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft lowered their target price on Cedar Fair from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Stifel Nicolaus decreased their price target on shares of Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Institutional Investors Weigh In On Cedar Fair

Several large investors have recently made changes to their positions in FUN. CWM LLC lifted its stake in Cedar Fair by 932.0% in the second quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after acquiring an additional 1,864 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Cedar Fair by 10.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after purchasing an additional 300 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Cedar Fair by 94.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after purchasing an additional 1,400 shares in the last quarter. Brookstone Capital Management acquired a new position in Cedar Fair during the second quarter worth $215,000. Finally, Thrive Wealth Management LLC bought a new position in Cedar Fair during the second quarter valued at about $252,000. Institutional investors own 64.65% of the company’s stock.

Cedar Fair Stock Down 1.5 %

Shares of NYSE FUN opened at $36.39 on Friday. The stock’s 50 day moving average price is $41.84 and its two-hundred day moving average price is $44.07. Cedar Fair has a 52-week low of $34.04 and a 52-week high of $58.70. The stock has a market capitalization of $1.87 billion, a P/E ratio of 14.98 and a beta of 1.55.

Cedar Fair (NYSE:FUN) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The business had revenue of $571.62 million for the quarter, compared to analysts’ expectations of $525.57 million. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. On average, analysts anticipate that Cedar Fair will post 2.09 EPS for the current year.

About Cedar Fair

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.