Analysts Set Cedar Fair, L.P. (NYSE:FUN) Target Price at $62.80

Shares of Cedar Fair, L.P. (NYSE:FUN) have earned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $62.80.

FUN has been the topic of several recent analyst reports. KeyCorp cut their price target on Cedar Fair from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Wedbush set a $60.00 price target on Cedar Fair and gave the stock a “buy” rating in a research note on Thursday, September 12th. Zacks Investment Research upgraded Cedar Fair from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Tuesday, September 10th. TheStreet upgraded Cedar Fair from a “c” rating to a “b-” rating in a research note on Thursday, August 29th. Finally, ValuEngine upgraded Cedar Fair from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley raised its stake in Cedar Fair by 50.2% during the second quarter. Morgan Stanley now owns 1,964,246 shares of the company’s stock valued at $93,675,000 after buying an additional 656,131 shares in the last quarter. Invesco Ltd. raised its stake in Cedar Fair by 3,640.3% during the second quarter. Invesco Ltd. now owns 1,301,349 shares of the company’s stock valued at $62,061,000 after buying an additional 1,266,556 shares in the last quarter. Royal Bank of Canada raised its stake in Cedar Fair by 3.6% during the second quarter. Royal Bank of Canada now owns 926,067 shares of the company’s stock valued at $44,165,000 after buying an additional 32,388 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in Cedar Fair by 10.4% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 751,561 shares of the company’s stock valued at $35,842,000 after buying an additional 70,597 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Cedar Fair by 9.1% during the second quarter. Bank of Montreal Can now owns 537,200 shares of the company’s stock valued at $25,620,000 after buying an additional 44,600 shares in the last quarter. Hedge funds and other institutional investors own 49.90% of the company’s stock.

Shares of FUN traded up $0.68 during midday trading on Friday, reaching $58.06. 253,496 shares of the company were exchanged, compared to its average volume of 684,796. The stock has a 50-day moving average price of $56.83 and a 200-day moving average price of $52.86. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 2.41 and a beta of 0.49. Cedar Fair has a 1-year low of $45.58 and a 1-year high of $64.86.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.25. Cedar Fair had a negative return on equity of 939.99% and a net margin of 12.03%. The company had revenue of $436.19 million for the quarter, compared to analysts’ expectations of $410.86 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts anticipate that Cedar Fair will post 3.4 EPS for the current year.

About Cedar Fair

Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.

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Analyst Recommendations for Cedar Fair (NYSE:FUN)

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