Cedar Fair, L.P. (NYSE:FUN) Given Average Rating of “Buy” by Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $57.13.

Several equities research analysts have issued reports on FUN shares. Zacks Investment Research upgraded Cedar Fair from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Wednesday, August 4th. Credit Suisse Group increased their price objective on Cedar Fair from $69.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, August 5th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WealthShield Partners LLC raised its position in Cedar Fair by 188.0% during the second quarter. WealthShield Partners LLC now owns 576 shares of the company’s stock valued at $26,000 after purchasing an additional 376 shares in the last quarter. Wedbush Securities Inc. grew its stake in shares of Cedar Fair by 3.6% during the second quarter. Wedbush Securities Inc. now owns 11,275 shares of the company’s stock valued at $505,000 after buying an additional 397 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Cedar Fair by 29.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,760 shares of the company’s stock valued at $87,000 after buying an additional 398 shares during the last quarter. FORA Capital LLC grew its stake in shares of Cedar Fair by 31.2% during the first quarter. FORA Capital LLC now owns 1,881 shares of the company’s stock valued at $93,000 after buying an additional 447 shares during the last quarter. Finally, MAI Capital Management grew its stake in shares of Cedar Fair by 4.6% during the first quarter. MAI Capital Management now owns 15,288 shares of the company’s stock valued at $760,000 after buying an additional 668 shares during the last quarter. Institutional investors and hedge funds own 57.90% of the company’s stock.

NYSE FUN traded up $0.45 on Friday, hitting $44.69. 154,250 shares of the stock traded hands, compared to its average volume of 444,092. The business’s fifty day moving average is $43.68 and its two-hundred day moving average is $46.28. Cedar Fair has a 12 month low of $24.48 and a 12 month high of $52.50. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of -6.15 and a beta of 2.30.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Wednesday, August 4th. The company reported ($1.04) earnings per share for the quarter, beating the consensus estimate of ($1.45) by $0.41. The firm had revenue of $244.00 million for the quarter, compared to the consensus estimate of $211.79 million. Cedar Fair’s revenue for the quarter was up 3597.0% on a year-over-year basis. During the same period last year, the company posted ($2.35) earnings per share. On average, analysts forecast that Cedar Fair will post -1.6 earnings per share for the current fiscal year.

Cedar Fair Company Profile

Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada’s Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott’s Berry Farm, and California’s Great America.

Further Reading: Day Trading – Risk Worth the Reward?

Analyst Recommendations for Cedar Fair (NYSE:FUN)

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