In a report released today, Tim Conder from Wells Fargo downgraded Cedar Fair (FUN) to Hold. The company’s shares closed last Monday at $32.59.
According to TipRanks.com, Conder is a 4-star analyst with an average return of 8.1% and a 58.3% success rate. Conder covers the Consumer Goods sector, focusing on stocks such as Patrick Industries, Acushnet Holdings, and Harley-Davidson.
Cedar Fair has an analyst consensus of Strong Buy, with a price target consensus of $38.00, representing a 14.9% upside. In a report issued on June 9, B.Riley FBR also maintained a Hold rating on the stock with a $42.00 price target.
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Based on Cedar Fair’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $53.64 million and GAAP net loss of $216 million. In comparison, last year the company earned revenue of $66.98 million and had a GAAP net loss of $83.67 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. The company was founded on May 13, 1983 and is headquartered in Sandusky, OH.
