Cedar Fair, L.P. (NYSE:FUN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cedar Fair, L.P. (NYSE:FUN) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $55.46.

A number of analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Cedar Fair from $48.00 to $43.00 and set an “underweight” rating for the company in a research note on Monday, September 16th. Macquarie decreased their price target on shares of Cedar Fair from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Cedar Fair from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Guggenheim began coverage on Cedar Fair in a research report on Tuesday, October 29th. They set a “buy” rating and a $52.00 price objective for the company. Finally, Stifel Nicolaus decreased their target price on shares of Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

Cedar Fair Price Performance

FUN opened at $41.61 on Tuesday. The business has a 50 day moving average price of $40.60 and a two-hundred day moving average price of $44.05. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 16.85 and a beta of 1.55. Cedar Fair has a 1-year low of $35.93 and a 1-year high of $58.70.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.02. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. The company had revenue of $571.62 million for the quarter, compared to analysts’ expectations of $525.57 million. Equities analysts expect that Cedar Fair will post 2.14 EPS for the current fiscal year.

Institutional Trading of Cedar Fair

A number of hedge funds have recently modified their holdings of FUN. S.A. Mason LLC lifted its position in Cedar Fair by 63.1% in the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares during the period. Torno Capital LLC acquired a new stake in Cedar Fair during the second quarter valued at approximately $4,413,000. Benjamin F. Edwards & Company Inc. grew its stake 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 period. Commonwealth Equity Services LLC lifted its position in shares of Cedar Fair by 4.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock worth $1,022,000 after buying an additional 826 shares during the period. Finally, Ameritas Advisory Services LLC boosted its stake in shares of 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 purchasing an additional 2,804 shares in the last quarter. Institutional investors own 64.65% of the company’s stock.

About Cedar Fair

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.