Cedar Fair, L.P. (NYSE:FUN) Receives $57.13 Consensus PT from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $57.13.

Several equities analysts have recently commented on FUN shares. Credit Suisse Group boosted their price target on shares of Cedar Fair from $69.00 to $74.00 and gave the company an “outperform” rating in a report on Thursday, August 5th. Zacks Investment Research upgraded shares of Cedar Fair from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, August 4th.

NYSE FUN opened at $44.00 on Friday. Cedar Fair has a twelve month low of $24.48 and a twelve month high of $52.50. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -6.05 and a beta of 2.30. The firm’s 50 day moving average price is $43.72 and its two-hundred day moving average price is $46.40.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Wednesday, August 4th. The company reported ($1.04) earnings per share for the quarter, topping the consensus estimate of ($1.45) by $0.41. The firm had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $211.79 million. During the same quarter in the previous year, the firm posted ($2.35) earnings per share. The company’s revenue for the quarter was up 3597.0% on a year-over-year basis. On average, equities research analysts expect that Cedar Fair will post -1.6 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. lifted its position in Cedar Fair by 29.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,760 shares of the company’s stock worth $87,000 after acquiring an additional 398 shares during the last quarter. Scotia Capital Inc. lifted its position in Cedar Fair by 4.4% during the 1st quarter. Scotia Capital Inc. now owns 23,331 shares of the company’s stock worth $1,159,000 after acquiring an additional 987 shares during the last quarter. The PNC Financial Services Group Inc. lifted its position in Cedar Fair by 14.7% during the 1st quarter. The PNC Financial Services Group Inc. now owns 11,685 shares of the company’s stock worth $580,000 after acquiring an additional 1,500 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Cedar Fair during the first quarter valued at about $154,000. Finally, MAI Capital Management raised its position in shares of Cedar Fair by 4.6% during the first quarter. MAI Capital Management now owns 15,288 shares of the company’s stock valued at $760,000 after buying an additional 668 shares during the last quarter. 57.90% of the stock is owned by institutional investors and hedge funds.

Cedar Fair Company Profile

Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada’s Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott’s Berry Farm, and California’s Great America.

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Analyst Recommendations for Cedar Fair (NYSE:FUN)

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