Today’s big question for investors is, “what’s going on with Cedar Fair, L.P. (NYSE:FUN) stock? Its price is jumping 1.45 points, trading at $55.28 levels, and is up 2.69% from its previous close of $53.83. The shares seem to have an active trading volume day with a reported 121238 contracts so far this session. FUN shares had a relatively better volume day versus average trading capacity of 300.25 thousand shares, but with a 55.8 million float and a -3.17% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for FUN stock indicates that the average analyst price target is $64.13 per share. This means the stock has a potential increase of 16.01% from where the FUN share price has been trading recently.
During the recent trading session for Cedar Fair, L.P. (NYSE:FUN), the company witnessed their stock rise $0.13 over a week and tumble down $-0.18 from the price 20 days ago. When compared to their established 52-week high of $64.86, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/10/19. The recent low of $45.58 stood for a -14.77% since 06/26/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.58 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Cedar Fair, L.P., the two-week RSI stands at 49.86. This figure suggests that FUN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current FUN readings is similarly very revealing as it has a stochastic reading of 37.51% at this stage. This figure means that FUN share price today is being neutral.
Technical chart claims that Cedar Fair, L.P. (FUN) would settle between $54.23/share to $54.64/share level. However, if the stock price goes below the $53.47 mark, then the market for Cedar Fair, L.P. becomes much weaker. If that happens, the stock price might even plunge as low as $53.12 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.67. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at B. Riley FBR lowered their recommendation on shares of FUN from Buy to Neutral in their opinion released on December 02. SunTrust analysts bumped their rating on Cedar Fair, L.P. (NYSE:FUN) stock from Hold to Buy in a separate flash note issued to investors on August 22. Analysts at B. Riley FBR are sticking to their Buy stance. However, on March 28, they lifted price target for these shares to $60 from $61.
FUN equity has an average rating of 2.2, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 7 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 7 analysts rated Cedar Fair, L.P. (NYSE:FUN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, FUN stock price is currently trading at 15.32X forward 12-month Consensus EPS estimates, and its P/E ratio is 20.9 while for the average stock in the same group, the multiple is 28.5. Cedar Fair, L.P. current P/B ratio of 71.4 means it is trading at a premium against its industry’s 3.1.
Cedar Fair, L.P. (FUN)’s current-quarter revenues are projected to climb by nearly 6.7% to hit $266550, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 10.1% from $1.35 billion to a noteworthy $1.48 billion. At the other end of the current quarter income statement, Cedar Fair, L.P. is expected to see its adjusted earnings surge by roughly 137.5% to hit $0.15 per share. For the fiscal year, FUN’s earnings are projected to climb by roughly 40.4% to hit $3.13 per share.