Cedar Fair, L.P. (NYSE:FUN) Receives $55.46 Average Target Price from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $55.69.

Several equities research analysts recently commented on the company. Mizuho cut their price target on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, August 9th. B. Riley cut their target price on Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, August 9th. The Goldman Sachs Group cut their target price on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. StockNews.com started coverage on Cedar Fair in a research note on Wednesday, September 4th. They set a “hold” rating for the company. Finally, Guggenheim started coverage on Cedar Fair in a research note on Tuesday, October 29th. They set a “buy” rating and a $52.00 target price for the company.

Institutional Trading of Cedar Fair

A number of institutional investors have recently bought and sold shares of the business. Mutual of America Capital Management LLC purchased a new stake in shares of Cedar Fair in the 3rd quarter valued at about $260,000. S.A. Mason LLC lifted its holdings in shares of Cedar Fair by 63.1% in the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares during the last quarter. Torno Capital LLC purchased a new stake in shares of Cedar Fair in the 2nd quarter valued at about $4,413,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Cedar Fair by 94.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of 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 purchasing an additional 826 shares during the last quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.

Cedar Fair Stock Performance

NYSE:FUN opened at $45.48 on Tuesday. Cedar Fair has a one year low of $35.93 and a one year high of $58.70. The stock has a market cap of $4.56 billion, a PE ratio of 18.41 and a beta of 1.55. The stock has a 50 day moving average price of $40.61 and a 200 day moving average price of $44.12.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.08 EPS for the quarter, beating 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 firm had revenue of $571.62 million during the quarter, compared to analysts’ expectations of $525.57 million. As a group, analysts predict that Cedar Fair will post 2.14 earnings per share for the current fiscal 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.