Cedar Fair, L.P. (FUN) Earns Buy Rating from Analysts at Stifel Nicolaus

Equities researchers at Stifel Nicolaus began coverage on shares of Cedar Fair, L.P. (NYSE:FUN) in a report released on Thursday, April 20th. The firm set a “buy” rating and a $78.00 price target on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 11.92% from the company’s current price.

Several other research firms have also recently commented on FUN. Zacks Investment Research raised Cedar Fair, L.P. from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Tuesday, January 3rd. FBR & Co raised their target price on Cedar Fair, L.P. from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Thursday, February 16th. Janney Montgomery Scott reaffirmed a “buy” rating and set a $76.00 target price on shares of Cedar Fair, L.P. in a research note on Thursday, February 16th. Wedbush raised their target price on Cedar Fair, L.P. from $69.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, February 16th. Finally, Goldman Sachs Group Inc started coverage on Cedar Fair, L.P. in a research note on Thursday, April 6th. They set a “buy” rating and a $81.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Cedar Fair, L.P. has a consensus rating of “Buy” and a consensus price target of $72.89.

Analyst Recommendations for Cedar Fair, L.P. (NYSE:FUN)

Cedar Fair, L.P. (NYSE:FUN) opened at 70.54 on Thursday. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 24.76 and a beta of 0.74. Cedar Fair, L.P. has a 52-week low of $56.17 and a 52-week high of $72.56. The stock’s 50 day moving average is $69.84 and its 200 day moving average is $65.36.

Cedar Fair, L.P. (NYSE:FUN) last issued its quarterly earnings data on Wednesday, May 3rd. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.09) by $0.04. Cedar Fair, L.P. had a return on equity of 768.42% and a net margin of 12.57%. The company had revenue of $48.30 million for the quarter, compared to the consensus estimate of $53.62 million. During the same quarter last year, the business earned ($0.87) earnings per share. Cedar Fair, L.P.’s revenue was down 17.3% compared to the same quarter last year. Equities research analysts forecast that Cedar Fair, L.P. will post $3.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, June 5th will be paid a $0.855 dividend. The ex-dividend date is Thursday, June 1st. This represents a $3.42 dividend on an annualized basis and a yield of 4.91%. Cedar Fair, L.P.’s dividend payout ratio (DPR) is presently 122.14%.

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In other Cedar Fair, L.P. news, CMO Kelley Semmelroth sold 5,419 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $68.48, for a total value of $371,093.12. Following the completion of the sale, the chief marketing officer now owns 34,930 shares of the company’s stock, valued at $2,392,006.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew A. Ouimet sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $70.15, for a total value of $1,052,250.00. Following the completion of the sale, the chief executive officer now directly owns 220,499 shares of the company’s stock, valued at approximately $15,468,004.85. The disclosure for this sale can be found here. Insiders sold 29,419 shares of company stock valued at $2,036,513 in the last three months. Insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in FUN. Dynamic Advisors Solutions LLC boosted its position in shares of Cedar Fair, L.P. by 1.2% in the first quarter. Dynamic Advisors Solutions LLC now owns 3,458 shares of the company’s stock valued at $235,000 after buying an additional 42 shares during the last quarter. FormulaFolio Investments LLC boosted its position in shares of Cedar Fair, L.P. by 1.0% in the first quarter. FormulaFolio Investments LLC now owns 5,506 shares of the company’s stock valued at $373,000 after buying an additional 57 shares during the last quarter. Putnam Investments LLC boosted its position in shares of Cedar Fair, L.P. by 0.7% in the fourth quarter. Putnam Investments LLC now owns 10,584 shares of the company’s stock valued at $679,000 after buying an additional 74 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its position in shares of Cedar Fair, L.P. by 2.1% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 5,947 shares of the company’s stock valued at $403,000 after buying an additional 125 shares during the last quarter. Finally, United Capital Financial Advisers LLC boosted its position in shares of Cedar Fair, L.P. by 2.8% in the first quarter. United Capital Financial Advisers LLC now owns 4,771 shares of the company’s stock valued at $324,000 after buying an additional 130 shares during the last quarter. 48.91% of the stock is currently owned by institutional investors.

About Cedar Fair, L.P.

Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.

12 Month Chart for NYSE:FUN

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