Macquarie upgraded shares of Cedar Fair (NYSE:FUN) from a neutral rating to an outperform rating in a report issued on Friday morning, Marketbeat.com reports.
Other analysts have also issued reports about the stock. ValuEngine raised shares of Cedar Fair from a sell rating to a hold rating in a research note on Tuesday, November 27th. Zacks Investment Research upgraded shares of Cedar Fair from a hold rating to a buy rating and set a $59.00 price target for the company in a research report on Tuesday, February 12th. SunTrust Banks restated a hold rating and issued a $54.00 price target on shares of Cedar Fair in a research report on Monday, December 24th. Finally, TheStreet upgraded shares of Cedar Fair from a c+ rating to a b- rating in a research report on Thursday, January 31st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $60.83.
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Shares of NYSE:FUN opened at $50.75 on Friday. The company has a market capitalization of $2.86 billion, a PE ratio of 16.80, a P/E/G ratio of 2.67 and a beta of 0.62. Cedar Fair has a twelve month low of $45.73 and a twelve month high of $70.82. The company has a quick ratio of 0.94, a current ratio of 1.07 and a debt-to-equity ratio of 18.09.
Cedar Fair (NYSE:FUN) last issued its quarterly earnings results on Wednesday, February 13th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.59). Cedar Fair had a negative return on equity of 1,751.24% and a net margin of 9.39%. The company had revenue of $249.80 million during the quarter, compared to analyst estimates of $243.23 million. During the same period in the prior year, the company posted $1.01 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. Equities analysts forecast that Cedar Fair will post 3.24 earnings per share for the current year.
In other Cedar Fair news, CEO Richard Zimmerman purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, December 19th. The shares were bought at an average price of $48.92 per share, for a total transaction of $293,520.00. Following the purchase, the chief executive officer now directly owns 166,684 shares in the company, valued at approximately $8,154,181.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. PRW Wealth Management LLC acquired a new position in shares of Cedar Fair during the 4th quarter worth $34,000. CWM LLC acquired a new position in Cedar Fair in the 4th quarter valued at $65,000. First Manhattan Co. grew its stake in Cedar Fair by 166.7% in the 4th quarter. First Manhattan Co. now owns 1,600 shares of the company’s stock valued at $75,000 after buying an additional 1,000 shares during the last quarter. Advisory Services Network LLC grew its stake in Cedar Fair by 26.7% in the 4th quarter. Advisory Services Network LLC now owns 2,049 shares of the company’s stock valued at $97,000 after buying an additional 432 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Cedar Fair by 61.4% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,934 shares of the company’s stock valued at $153,000 after buying an additional 1,116 shares during the last quarter. Institutional investors own 51.33% 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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