Macquarie Upgrades Cedar Fair L.P. to Outperform

Brokerage firm Macquarie Upgrades its rating on Cedar Fair L.P.(NYSE:FUN). The shares have been rated Outperform. The rating by Macquarie was issued on Jul 8, 2016.

In a different note, Stephens & Co. said it Initiates Coverage on Cedar Fair L.P., according to a research note issued on Apr 19, 2016. The shares have been rated ‘Equal-weight’ by the firm.

Cedar Fair L.P. (FUN) made into the market gainers list on Wednesdays trading session with the shares advancing 0.45% or 0.27 points. Due to strong positive momentum, the stock ended at $60.82, which is also near the day’s high of $60.86. The stock began the session at $60.64 and the volume stood at 89,329 shares. The 52-week high of the shares is $60.86 and the 52 week low is $48.4552. The company has a current market capitalization of $3,410 M and it has 5,60,68,506 shares in outstanding.

Cedar Fair L.P.(FUN) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $58.44M. Analysts had an estimated revenue of $49.94M. Earnings per share were $-0.87. Analysts had estimated an EPS of $-1.13.

Several Insider Transactions has been reported to the SEC. On Jun 3, 2016, Craig J Freeman (Senior VP, Administration) sold 1,794 shares at $60.03 per share price.Also, 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.

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