B.Riley FBR Maintains Their Hold Rating on Cedar Fair (FUN)

By Austin Angelo

B.Riley FBR analyst Eric Wold maintained a Hold rating on Cedar Fair (FUNResearch Report) today and set a price target of $27.00. The company’s shares closed last Wednesday at $25.64.

According to TipRanks.com, Wold ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -19.5% and a 23.9% success rate. Wold covers the Services sector, focusing on stocks such as Dolby Laboratories, National Cinemedia, and Cinemark Holdings.

Currently, the analyst consensus on Cedar Fair is a Strong Buy with an average price target of $40.88, representing a 51.9% upside. In a report issued on April 28, Wells Fargo also downgraded the stock to Hold with a $30.00 price target.

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Based on Cedar Fair’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $257 million and net profit of $2.79 million. In comparison, last year the company earned revenue of $250 million and had a GAAP net loss of $22.5 million.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FUN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada’s Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott’s Berry Farm, and California’s Great America. The company was founded on May 13, 1983 and is headquartered in Sandusky, OH.