Cedar Fair L.P. (FUN) was Upgraded by Macquarie to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 65 from a previous price target of $60 . Earlier the firm had a rating of “Neutral ” on the company shares. Macquarie advised their investors in a research report released on Jul 8, 2016.
On the company’s financial health, Cedar Fair L.P. reported $-0.87 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on May 4, 2016. Analyst had a consensus of $-1.13. The company had revenue of $58.40 million for the quarter, compared to analysts expectations of $50.91 million. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.50 EPS.
Cedar Fair L.P. opened for trading at $57.95 and hit $58.3764 on the upside on Tuesday, eventually ending the session at $58.28, with a gain of 0.57% or 0.33 points. The heightened volatility saw the trading volume jump to 1,03,247 shares. Company has a market cap of $3,268 M.
In a different news, on Jun 3, 2016, Craig J Freeman (Senior VP, Administration) sold 1,794 shares at $60.03 per share price. According to the SEC, on Jun 3, 2016, Thomas Klein (director) purchased 3,000 shares at $58.65 per share price. On Feb 29, 2016, David R. Hoffman (Senior VP & CAO) purchased 10 shares at $57.46 per share price, according to the Form-4 filing with the securities and exchange commission.
Cedar Fair L.P. is an operator of regional amusement parks. The Company owns 11 amusement parks three outdoor water parks one indoor water park and five hotels. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky Ohio; Kings Island near Cincinnati Ohio; Canada’s Wonderland near Toronto Canada; Dorney Park & Wildwater Kingdom (Dorney Park) located near Allentown in South Whitehall Township Pennsylvania; Valleyfair located near Minneapolis/St. Paul in Shakopee Minnesota; Michigan’s Adventure located near Muskegon Michigan; Kings Dominion near Richmond Virginia; Carowinds in Charlotte North Carolina; Worlds of Fun located in Kansas City Missouri; Knott’s Berry Farm located near Los Angeles in Buena Park California and California’s Great America (Great America) located in Santa Clara California. The Company also manages and operates Gilroy Gardens Family Theme Park in Gilroy California.