Goldman Sachs Group, Inc. (The) lowered shares of Cedar Fair, L.P. (NYSE:FUN) from a conviction-buy rating to a buy rating in a report released on Wednesday morning. Goldman Sachs Group, Inc. (The) currently has $75.00 target price on the stock.

Several other research firms have also recently weighed in on FUN. Stifel Nicolaus reissued a buy rating and set a $78.00 price objective on shares of Cedar Fair, L.P. in a report on Friday, July 7th. BidaskClub cut shares of Cedar Fair, L.P. from a buy rating to a hold rating in a report on Tuesday, June 27th. Zacks Investment Research raised shares of Cedar Fair, L.P. from a hold rating to a buy rating and set a $78.00 price objective for the company in a report on Wednesday, July 12th. KeyCorp reissued an overweight rating and set a $74.00 price objective on shares of Cedar Fair, L.P. in a report on Wednesday, August 30th. Finally, FBR & Co reaffirmed a buy rating on shares of Cedar Fair, L.P. in a report on Thursday, September 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $74.38.

Cedar Fair, L.P. (NYSE:FUN) traded down 0.82% on Wednesday, hitting $63.11. 81,518 shares of the stock were exchanged. The company has a 50-day moving average of $65.43 and a 200-day moving average of $68.55. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 26.47 and a beta of 0.48. Cedar Fair, L.P. has a 12 month low of $56.23 and a 12 month high of $72.56.

Cedar Fair, L.P. (NYSE:FUN) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.20). Cedar Fair, L.P. had a net margin of 10.50% and a return on equity of 1,048.17%. The company had revenue of $392.80 million for the quarter, compared to analysts’ expectations of $405.78 million. During the same period in the previous year, the firm earned $1.03 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts predict that Cedar Fair, L.P. will post $2.85 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Wednesday, September 6th were given a $0.855 dividend. The ex-dividend date was Friday, September 1st. This represents a $3.42 dividend on an annualized basis and a dividend yield of 5.42%. Cedar Fair, L.P.’s payout ratio is currently 144.30%.

In other Cedar Fair, L.P. news, CEO Matthew A. Ouimet sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $64.90, for a total value of $129,800.00. Following the completion of the transaction, the chief executive officer now directly owns 193,199 shares in the company, valued at $12,538,615.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew A. Ouimet sold 9,100 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $68.89, for a total transaction of $626,899.00. Following the completion of the transaction, the chief executive officer now owns 200,799 shares of the company’s stock, valued at $13,833,043.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,100 shares of company stock valued at $957,099. Company insiders own 2.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its position in shares of Cedar Fair, L.P. by 42.9% in the second quarter. FMR LLC now owns 4,061,429 shares of the company’s stock worth $292,829,000 after purchasing an additional 1,220,099 shares during the period. Janus Henderson Group PLC bought a new position in shares of Cedar Fair, L.P. during the second quarter worth $145,981,000. Royal Bank of Canada boosted its position in shares of Cedar Fair, L.P. by 3.5% during the second quarter. Royal Bank of Canada now owns 1,004,551 shares of the company’s stock worth $72,427,000 after acquiring an additional 34,144 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of Cedar Fair, L.P. by 4.4% during the first quarter. Janus Capital Management LLC now owns 625,955 shares of the company’s stock worth $42,446,000 after acquiring an additional 26,315 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Cedar Fair, L.P. by 3.9% during the first quarter. Morgan Stanley now owns 596,939 shares of the company’s stock worth $40,478,000 after acquiring an additional 22,243 shares during the last quarter. Institutional investors and hedge funds own 51.46% of the company’s stock.

Cedar Fair, L.P. Company Profile

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.

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

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