Cedar Fair, L.P. (NYSE:FUN) Receives $58.82 Consensus Target Price from Brokerages

Cedar Fair, L.P. (NYSE:FUN) has been given a consensus rating of “Moderate Buy” by the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $58.82.

Several brokerages have recently issued reports on FUN. The Goldman Sachs Group decreased their price objective on Cedar Fair from $63.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Oppenheimer upped their price objective on Cedar Fair from $49.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. B. Riley decreased their price objective on Cedar Fair from $77.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, August 9th. StockNews.com began coverage on Cedar Fair in a report on Tuesday. They set a “hold” rating on the stock. Finally, Morgan Stanley upped their price objective on Cedar Fair from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, July 1st.

Institutional Trading of Cedar Fair

Several hedge funds and other institutional investors have recently bought and sold shares of FUN. Tower Research Capital LLC TRC increased its stake in Cedar Fair by 201.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock worth $33,000 after purchasing an additional 562 shares during the period. CWM LLC increased its stake in Cedar Fair by 932.0% in the second quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after purchasing an additional 1,864 shares during the period. PNC Financial Services Group Inc. increased its stake in Cedar Fair by 10.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after purchasing an additional 300 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Cedar Fair by 94.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after purchasing an additional 1,400 shares during the period. Finally, Brookstone Capital Management purchased a new stake in Cedar Fair in the second quarter worth $215,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Cedar Fair Price Performance

FUN stock opened at $43.87 on Thursday. Cedar Fair has a 1-year low of $34.04 and a 1-year high of $58.70. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 18.05 and a beta of 1.54. The business has a 50 day simple moving average of $48.65 and a two-hundred day simple moving average of $44.34.

Cedar Fair Dividend Announcement

The business also recently declared a Variable dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 28th were issued a dividend of $1.53 per share. The ex-dividend date was Friday, June 28th. Cedar Fair’s payout ratio is presently 49.38%.

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.