Cedar Fair, L.P. (NYSE:FUN) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Cedar Fair, L.P. (NYSE:FUN - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $55.46.

Several equities analysts have weighed in on FUN shares. Mizuho dropped their target price on shares of Cedar Fair from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Friday, August 9th. Oppenheimer dropped their target price on shares of Cedar Fair from $67.00 to $60.00 and set an "outperform" rating for the company in a report on Tuesday, October 15th. The Goldman Sachs Group decreased their price target on shares of Cedar Fair from $55.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Guggenheim began coverage on shares of Cedar Fair in a research note on Tuesday, October 29th. They set a "buy" rating and a $52.00 price target on the stock. Finally, Citigroup decreased their price target on shares of Cedar Fair from $61.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, September 18th.

Cedar Fair Trading Up 2.3 %

Shares of FUN traded up $0.95 during trading hours on Tuesday, reaching $42.56. The company had a trading volume of 1,728,817 shares, compared to its average volume of 948,336. The firm has a 50 day simple moving average of $40.56 and a 200-day simple moving average of $44.07. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 16.85 and a beta of 1.55. Cedar Fair has a 12-month low of $35.93 and a 12-month high of $58.70.

Cedar Fair (NYSE:FUN - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $571.62 million during the quarter, compared to the consensus estimate of $525.57 million. Sell-side analysts forecast that Cedar Fair will post 2.14 earnings per share for the current year.

Institutional Trading of Cedar Fair

A number of hedge funds have recently made changes to their positions in the company. Torno Capital LLC purchased a new stake in shares of Cedar Fair during the second quarter valued at approximately $4,413,000. HAP Trading LLC purchased a new stake in shares of Cedar Fair during the first quarter valued at approximately $1,329,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in shares of Cedar Fair by 121.9% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 24,268 shares of the company's stock worth $1,017,000 after buying an additional 13,332 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Cedar Fair by 4.6% in the second 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 last quarter. Finally, Aurora Investment Counsel increased its stake in shares of Cedar Fair by 1.7% in the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company's stock worth $632,000 after buying an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company's stock.

Cedar Fair Company Profile

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.