Cedar Fair, L.P. (NYSE:FUN)‘s stock had its “buy” rating reaffirmed by investment analysts at KeyCorp in a research report issued on Tuesday, October 24th. They presently have a $74.00 price objective on the stock. KeyCorp’s price objective suggests a potential upside of 9.63% from the stock’s current price.
A number of other analysts have also issued reports on FUN. BidaskClub lowered Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $81.00 target price on shares of Cedar Fair, L.P. in a report on Tuesday, July 4th. Stifel Nicolaus restated a “buy” rating and set a $78.00 target price on shares of Cedar Fair, L.P. in a report on Friday, July 7th. Zacks Investment Research upgraded Cedar Fair, L.P. from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Wednesday, July 12th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Cedar Fair, L.P. in a research report on Thursday, September 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $74.38.
Shares of Cedar Fair, L.P. (NYSE:FUN) opened at $67.50 on Tuesday. Cedar Fair, L.P. has a 52 week low of $58.05 and a 52 week high of $72.56. The firm has a market capitalization of $3,796.06, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 3.76 and a beta of 0.51. The company has a debt-to-equity ratio of 22.05, a quick ratio of 1.06 and a current ratio of 1.18.
Cedar Fair, L.P. (NYSE:FUN) last announced its earnings results on Thursday, November 2nd. The company reported $3.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.56 by ($0.18). The business had revenue of $652.69 million for the quarter, compared to analysts’ expectations of $652.98 million. Cedar Fair, L.P. had a net margin of 11.75% and a return on equity of 2,430.22%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm earned $3.10 EPS. equities analysts predict that Cedar Fair, L.P. will post 2.99 EPS for the current fiscal year.
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In related news, CEO Matthew A. Ouimet sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $66.80, for a total value of $200,400.00. Following the transaction, the chief executive officer now directly owns 195,199 shares of the company’s stock, valued at approximately $13,039,293.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew A. Ouimet sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $64.90, for a total transaction of $129,800.00. Following the completion of the transaction, the chief executive officer now directly owns 193,199 shares in the company, valued at $12,538,615.10. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Cedar Fair, L.P. by 42.9% in the 2nd quarter. FMR LLC now owns 4,061,429 shares of the company’s stock valued at $292,829,000 after acquiring an additional 1,220,099 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Cedar Fair, L.P. in the 2nd quarter valued at approximately $145,981,000. Royal Bank of Canada increased its holdings in Cedar Fair, L.P. by 3.5% in the 2nd quarter. Royal Bank of Canada now owns 1,004,551 shares of the company’s stock valued at $72,427,000 after purchasing an additional 34,144 shares during the last quarter. Janus Capital Management LLC increased its holdings in Cedar Fair, L.P. by 4.4% in the 1st quarter. Janus Capital Management LLC now owns 625,955 shares of the company’s stock valued at $42,446,000 after purchasing an additional 26,315 shares during the last quarter. Finally, Morgan Stanley boosted its position in Cedar Fair, L.P. by 3.9% in the 1st quarter. Morgan Stanley now owns 596,939 shares of the company’s stock valued at $40,478,000 after buying an additional 22,243 shares during the period. Institutional investors own 51.55% of the company’s stock.
Cedar Fair, L.P. Company Profile
Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.
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