TheStreet Upgrades Cedar Fair (NYSE:FUN) to “C”

TheStreet upgraded shares of Cedar Fair (NYSE:FUNGet Rating) from a d+ rating to a c rating in a report published on Wednesday morning, TheStreetRatingsTable reports.

Several other equities research analysts also recently weighed in on the stock. Credit Suisse Group cut their target price on shares of Cedar Fair from $89.00 to $74.00 and set an outperform rating on the stock in a research note on Thursday. B. Riley lowered their price target on shares of Cedar Fair from $80.00 to $68.00 and set a buy rating for the company in a report on Tuesday, June 21st. Stifel Nicolaus lowered their price target on shares of Cedar Fair from $72.00 to $58.00 in a report on Thursday, July 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Cedar Fair from $75.00 to $63.00 in a report on Thursday. Finally, KeyCorp set a $55.00 price target on shares of Cedar Fair in a report on Tuesday, July 19th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $58.88.

Cedar Fair Stock Up 3.1 %

Shares of FUN opened at $42.27 on Wednesday. Cedar Fair has a fifty-two week low of $37.78 and a fifty-two week high of $62.56. The firm’s 50 day moving average price is $43.20 and its 200 day moving average price is $49.68. The company has a market cap of $2.41 billion, a P/E ratio of 29.15 and a beta of 1.70.

Cedar Fair (NYSE:FUNGet Rating) last announced its earnings results on Wednesday, May 4th. The company reported ($1.56) earnings per share for the quarter, topping the consensus estimate of ($1.96) by $0.40. Cedar Fair had a net margin of 4.85% and a negative return on equity of 12.64%. The firm had revenue of $99.00 million for the quarter, compared to the consensus estimate of $76.28 million. During the same period in the prior year, the firm earned ($1.95) EPS. The firm’s revenue for the quarter was up 920.6% on a year-over-year basis. Research analysts forecast that Cedar Fair will post 4.09 earnings per share for the current year.

Cedar Fair Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.20 annualized dividend and a yield of 2.84%.

Institutional Trading of Cedar Fair

Several institutional investors and hedge funds have recently bought and sold shares of FUN. CWM LLC purchased a new stake in Cedar Fair in the 4th quarter valued at $58,000. Roosevelt Investment Group LLC raised its position in Cedar Fair by 22.2% in the 4th quarter. Roosevelt Investment Group LLC now owns 16,500 shares of the company’s stock valued at $826,000 after purchasing an additional 3,000 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Cedar Fair during the 4th quarter worth $394,000. Bank of America Corp DE raised its position in Cedar Fair by 11.0% during the 4th quarter. Bank of America Corp DE now owns 2,975,238 shares of the company’s stock worth $148,940,000 after buying an additional 295,613 shares during the last quarter. Finally, InterOcean Capital Group LLC purchased a new position in Cedar Fair during the 4th quarter worth $210,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Cedar Fair Company Profile

(Get Rating)

Cedar Fair, L.P. owns and operates amusement and water parks, and complementary resort facilities in the United States and Canada. 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.

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