Cedar Fair, L.P. (NYSE:FUN) Receives $58.82 Average Price Target from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $57.91.

A number of equities research analysts have recently weighed in on FUN shares. Stifel Nicolaus dropped their price objective on Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Mizuho decreased 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. Macquarie decreased their price target on Cedar Fair from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, August 9th. The Goldman Sachs Group reduced their target price on Cedar Fair from $63.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, Citigroup reduced their price objective on Cedar Fair from $61.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday.

Institutional Investors Weigh In On Cedar Fair

A number of institutional investors and hedge funds have recently modified their holdings of the company. Torno Capital LLC acquired a new stake in shares of Cedar Fair in the 2nd quarter worth approximately $4,413,000. Benjamin F. Edwards & Company Inc. lifted its stake in 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 buying an additional 1,400 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake 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 buying an additional 826 shares in the last quarter. Ameritas Advisory Services LLC lifted its stake in Cedar Fair by 31.1% in the 2nd quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock valued at $642,000 after buying an additional 2,804 shares in the last quarter. Finally, Brookstone Capital Management purchased a new stake in Cedar Fair in the 2nd quarter valued at approximately $215,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Cedar Fair Stock Down 0.1 %

NYSE:FUN opened at $41.47 on Monday. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $58.70. The company has a market capitalization of $2.13 billion, a P/E ratio of 17.07 and a beta of 1.55. The stock’s fifty day moving average is $45.38 and its two-hundred day moving average is $44.46.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $525.57 million. Sell-side analysts anticipate that Cedar Fair will post 2.78 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.