What Made B.Riley FBR Downgrade Cedar Fair’s Stock?

By Carrie Williams

Cedar Fair (FUNResearch Report) received a Hold rating and a $57.00 price target from B.Riley FBR analyst Eric Wold today. The company’s shares closed last Monday at $55.84.

According to TipRanks.com, Wold ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.1% and a 36.2% success rate. Wold covers the Services sector, focusing on stocks such as National Cinemedia, Cinemark Holdings, and AMC Entertainment.

Currently, the analyst consensus on Cedar Fair is a Strong Buy with an average price target of $62.25.

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Based on Cedar Fair’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $190 million. In comparison, last year the company had a net profit of $213 million.

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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.