Cedar Fair, L.P. (NYSE:FUN)‘s stock had its “buy” rating reaffirmed by investment analysts at Goldman Sachs Group, Inc. (The) in a research report issued to clients and investors on Tuesday, July 4th, StockTargetPrices.com reports. They currently have a $81.00 target price on the stock. Goldman Sachs Group, Inc. (The)’s price target would suggest a potential upside of 16.68% from the company’s previous close.
A number of other brokerages have also commented on FUN. BidaskClub lowered Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Stifel Nicolaus started coverage on Cedar Fair, L.P. in a research note on Thursday, April 20th. They set a “buy” rating and a $78.00 price target on the stock. SunTrust Banks, Inc. started coverage on Cedar Fair, L.P. in a research note on Wednesday, April 12th. They set a “hold” rating and a $72.00 price target on the stock. Finally, Zacks Investment Research downgraded Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $74.75.
Cedar Fair, L.P. (FUN) traded up 0.64% on Tuesday, hitting $69.42. The company had a trading volume of 42,925 shares. The firm has a market capitalization of $3.90 billion, a PE ratio of 24.37 and a beta of 0.51. The firm has a 50-day moving average price of $70.54 and a 200-day moving average price of $68.46. Cedar Fair, L.P. has a 12-month low of $56.23 and a 12-month high of $72.56.
Cedar Fair, L.P. (NYSE:FUN) last released its quarterly earnings data on Wednesday, May 3rd. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($1.09) by $0.04. The business had revenue of $48.30 million during the quarter, compared to analyst estimates of $53.62 million. Cedar Fair, L.P. had a net margin of 12.63% and a return on equity of 724.36%. The business’s quarterly revenue was down 17.3% compared to the same quarter last year. During the same period last year, the business earned ($0.87) earnings per share. On average, equities research analysts anticipate that Cedar Fair, L.P. will post $3.55 earnings per share for the current fiscal year.
In other news, CEO Matthew A. Ouimet sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $71.20, for a total transaction of $854,400.00. Following the completion of the sale, the chief executive officer now owns 207,299 shares in the company, valued at $14,759,688.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Matthew A. Ouimet sold 15,000 shares of Cedar Fair, L.P. stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $70.15, for a total value of $1,052,250.00. Following the transaction, the chief executive officer now directly owns 220,499 shares in the company, valued at approximately $15,468,004.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,100 shares of company stock valued at $2,533,549. Corporate insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its position in shares of Cedar Fair, L.P. by 4.9% in the first quarter. Janney Montgomery Scott LLC now owns 5,370 shares of the company’s stock valued at $364,000 after buying an additional 250 shares during the last quarter. River Road Asset Management LLC boosted its position in Cedar Fair, L.P. by 8.3% in the first quarter. River Road Asset Management LLC now owns 602,213 shares of the company’s stock valued at $40,836,000 after buying an additional 45,983 shares in the last quarter. Dubuque Bank & Trust Co. acquired a new position in Cedar Fair, L.P. during the first quarter valued at $188,000. Acadian Asset Management LLC acquired a new position in Cedar Fair, L.P. during the first quarter valued at $1,468,000. Finally, Palisade Capital Management LLC NJ boosted its position in Cedar Fair, L.P. by 75.2% in the first quarter. Palisade Capital Management LLC NJ now owns 52,480 shares of the company’s stock valued at $3,559,000 after buying an additional 22,530 shares in the last quarter. 51.86% of the stock is currently owned by institutional investors.
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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