Cedar Fair, L.P. (NYSE:FUN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Cedar Fair, L.P. (NYSE:FUN - Get Free Report) has earned a consensus rating of "Moderate Buy" from the fifteen brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $49.20.

A number of research analysts have recently weighed in on FUN shares. Mizuho lifted their price objective on Cedar Fair from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Macquarie reaffirmed an "outperform" rating and set a $55.00 price objective on shares of Cedar Fair in a research report on Friday, March 7th. The Goldman Sachs Group lowered their price target on Cedar Fair from $45.00 to $39.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. UBS Group began coverage on Cedar Fair in a report on Wednesday, April 9th. They issued a "buy" rating and a $49.00 price target on the stock. Finally, Guggenheim lowered their price target on Cedar Fair from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th.

Cedar Fair Stock Up 0.2%

Shares of NYSE:FUN traded up $0.07 on Friday, hitting $34.60. 1,483,372 shares of the company traded hands, compared to its average volume of 1,626,347. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95. Cedar Fair has a 52 week low of $28.02 and a 52 week high of $58.70. The company has a market cap of $3.50 billion, a PE ratio of -54.06 and a beta of 0.84. The stock has a 50 day simple moving average of $34.60 and a 200-day simple moving average of $41.22.

Cedar Fair (NYSE:FUN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($2.20) EPS for the quarter, beating the consensus estimate of ($2.29) by $0.09. Cedar Fair had a return on equity of 113.05% and a net margin of 0.99%. The company had revenue of $202.06 million for the quarter, compared to analysts' expectations of $235.51 million. The firm's revenue for the quarter was up 98.9% compared to the same quarter last year. As a group, research analysts expect that Cedar Fair will post 0.83 earnings per share for the current year.

Insider Buying and Selling at Cedar Fair

In other news, Director Michelle M. Frymire sold 5,929 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $37.89, for a total transaction of $224,649.81. Following the transaction, the director now owns 7,162 shares of the company's stock, valued at approximately $271,368.18. This represents a 45.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cedar Fair

An institutional investor recently raised its position in Cedar Fair stock. Peregrine Capital Management LLC increased its stake in shares of Cedar Fair, L.P. (NYSE:FUN - Free Report) by 7.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,499 shares of the company's stock after purchasing an additional 9,231 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.13% of Cedar Fair worth $4,691,000 as of its most recent SEC filing. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

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.