Cedar Fair, L.P. (NYSE:FUN) Receives $57.92 Average Price Target from Analysts

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

Several equities analysts have recently commented on FUN shares. StockNews.com began coverage on shares of Cedar Fair in a research report on Wednesday, September 4th. They set a “hold” rating on the stock. JPMorgan Chase & Co. reduced their target price on Cedar Fair from $48.00 to $43.00 and set an “underweight” rating on the stock in a report on Monday, September 16th. Oppenheimer boosted their price target on Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Citigroup reduced their price objective on Cedar Fair from $61.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Mizuho dropped their target price on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, August 9th.

Institutional Investors Weigh In On Cedar Fair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Torno Capital LLC acquired a new position in shares of Cedar Fair during the 2nd quarter valued at $4,413,000. Benjamin F. Edwards & Company Inc. raised its position 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 acquiring an additional 1,400 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Cedar Fair by 4.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after acquiring an additional 826 shares during the last quarter. Ameritas Advisory Services LLC boosted its position in shares of Cedar Fair by 31.1% during the 2nd quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock valued at $642,000 after purchasing an additional 2,804 shares in the last quarter. Finally, Brookstone Capital Management acquired a new position in shares of Cedar Fair in the 2nd quarter worth approximately $215,000. Institutional investors own 64.65% of the company’s stock.

Cedar Fair Trading Up 4.4 %

Shares of FUN stock opened at $38.04 on Friday. Cedar Fair has a twelve month low of $34.04 and a twelve month high of $58.70. The company has a market capitalization of $1.95 billion, a PE ratio of 15.65 and a beta of 1.55. The firm has a fifty day simple moving average of $41.72 and a 200-day simple moving average of $44.08.

Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.06 by $0.02. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. The business had revenue of $571.62 million for the quarter, compared to analysts’ expectations of $525.57 million. Equities research analysts predict that Cedar Fair will post 2.08 EPS for the current year.

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.