ValuEngine Upgrades Cedar Fair (NYSE:FUN) to Buy

Cedar Fair (NYSE:FUN) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Monday, ValuEngine reports.

FUN has been the subject of several other reports. SunTrust Banks reissued a “buy” rating and set a $35.00 price target on shares of Cedar Fair in a research report on Friday, April 17th. Goldman Sachs Group initiated coverage on shares of Cedar Fair in a research report on Thursday. They set a “buy” rating and a $43.00 price target for the company. Stifel Nicolaus increased their price target on shares of Cedar Fair from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Zacks Investment Research raised shares of Cedar Fair from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 22nd. Finally, KeyCorp decreased their price target on shares of Cedar Fair from $42.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $40.11.

NYSE:FUN traded down $1.14 during mid-day trading on Monday, reaching $31.81. The company’s stock had a trading volume of 1,119,100 shares, compared to its average volume of 959,843. Cedar Fair has a 1 year low of $13.00 and a 1 year high of $64.86. The stock has a fifty day moving average of $27.47 and a 200-day moving average of $41.84. The firm has a market capitalization of $1.85 billion, a PE ratio of 47.48 and a beta of 1.88. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 50.48.

Cedar Fair (NYSE:FUN) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.72) by ($0.55). Cedar Fair had a negative return on equity of 159.40% and a net margin of 2.74%. The business had revenue of $53.60 million during the quarter, compared to analysts’ expectations of $51.16 million. During the same period last year, the company earned ($1.49) earnings per share. The firm’s revenue was down 20.0% compared to the same quarter last year. On average, analysts expect that Cedar Fair will post -4.21 earnings per share for the current year.

In other Cedar Fair news, Director Carlos Ruisanchez purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average price of $28.50 per share, for a total transaction of $142,500.00. Following the acquisition, the director now owns 8,808 shares in the company, valued at $251,028. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Milkie Duffield purchased 5,390 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $37.58 per share, for a total transaction of $202,556.20. In the last 90 days, insiders have bought 22,850 shares of company stock worth $769,988. Corporate insiders own 2.30% of the company’s stock.

Large investors have recently modified their holdings of the stock. Lighthouse Financial Advisors Inc. acquired a new position in Cedar Fair in the 4th quarter worth approximately $41,000. Northwestern Mutual Wealth Management Co. increased its holdings in Cedar Fair by 68.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 897 shares of the company’s stock worth $50,000 after buying an additional 364 shares during the period. Ancora Advisors LLC acquired a new position in Cedar Fair in the 4th quarter worth approximately $97,000. Howard Wealth Management LLC acquired a new position in Cedar Fair in the 4th quarter worth approximately $105,000. Finally, Ameritas Investment Company LLC increased its holdings in Cedar Fair by 27.1% in the 1st quarter. Ameritas Investment Company LLC now owns 1,990 shares of the company’s stock worth $36,000 after buying an additional 424 shares during the period. Institutional investors own 41.82% of the company’s stock.

Cedar Fair Company Profile

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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