Cedar Fair, L.P. (NYSE:FUN) was upgraded by investment analysts at Goldman Sachs from a “buy” rating to a “conviction-buy” rating in a research report issued to clients and investors on Monday, The Fly reports.

Several hedge funds have recently modified their holdings of FUN. MB Financial Bank Trust Department purchased a new stake in shares of Cedar Fair, L.P. during the fourth quarter worth $335,000. FirstMerit Bank boosted its stake in shares of Cedar Fair, L.P. by 14.7% in the fourth quarter. FirstMerit Bank now owns 6,045 shares of the company’s stock worth $337,000 after buying an additional 774 shares during the last quarter. HL Financial Services LLC boosted its stake in shares of Cedar Fair, L.P. by 43.0% in the fourth quarter. HL Financial Services LLC now owns 9,286 shares of the company’s stock worth $519,000 after buying an additional 2,791 shares during the last quarter. Private Trust Company boosted its stake in shares of Cedar Fair, L.P. by 83.8% in the fourth quarter. Private Trust Company now owns 9,760 shares of the company’s stock worth $544,000 after buying an additional 4,450 shares during the last quarter. Finally, Commonwealth Equity Services boosted its stake in shares of Cedar Fair, L.P. by 22.7% in the fourth quarter. Commonwealth Equity Services now owns 14,596 shares of the company’s stock worth $815,000 after buying an additional 2,705 shares during the last quarter.

In other news, Director Thomas Klein acquired 1,500 shares of Cedar Fair, L.P. stock in a transaction dated Tuesday, December 15th. The stock was acquired at an average cost of $53.96 per share, for a total transaction of $80,940.00. Following the completion of the purchase, the director now owns 11,073 shares of the company’s stock, valued at $597,499.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Other research analysts also recently issued reports about the stock. Credit Suisse boosted their price objective on shares of Cedar Fair, L.P. from $64.00 to $68.00 in a research report on Friday, November 6th. Zacks Investment Research upgraded shares of Cedar Fair, L.P. from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Tuesday, November 3rd. Janney Montgomery Scott reiterated a “buy” rating and issued a $52.95 target price (down from $67.00) on shares of Cedar Fair, L.P. in a research note on Monday, October 5th. Finally, Macquarie assumed coverage on shares of Cedar Fair, L.P. in a research note on Wednesday, December 9th. They issued a “neutral” rating and a $58.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $61.14.

Shares of Cedar Fair, L.P. (NYSE:FUN) traded down 0.23% on Monday, reaching $52.56. 200,746 shares of the company’s stock traded hands. The firm has a market capitalization of $2.94 billion and a P/E ratio of 24.63. Cedar Fair, L.P. has a 52 week low of $48.46 and a 52 week high of $60.64. The company’s 50-day moving average is $53.31 and its 200-day moving average is $54.65.

Cedar Fair, L.P. (NYSE:FUN) last announced its quarterly earnings data on Thursday, November 5th. The company reported $2.92 EPS for the quarter, missing the Zacks’ consensus estimate of $3.53 by $0.61. During the same quarter in the previous year, the firm earned $2.90 earnings per share. The company had revenue of $645 million for the quarter, compared to analysts’ expectations of $628.14 million. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Cedar Fair, L.P. will post $2.34 earnings per share for the current fiscal year.

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 (NYSE:FUN), 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.

12 Month Chart for NYSE:FUN

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