Cedar Fair (FUN) and Six Flags (SIX) Close In On New 52-Week Highs; Shares Up Huge In Past 1-2 Yrs
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Price: $38.19 -1.14%
Rating Summary:
12 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
12 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Shares of Cedar Fair (NYSE: FUN) are trading up 0.73% to $31.76 and just pennies away from a new 52-week high ($31.86).
The Company, along with its affiliated companies (the Partnership), is an amusement park operator, which owns 11 amusement parks, six outdoor water parks, one indoor water park and five hotels. (popular locations include Cedar Point, Kings Island and Knott's Berry Farm)
This morning, KeyBanc reiterated its 'Buy' rating on the stock and raised its price target from $35 to $40.
KeyBanc analyst, Scott W. Hamann, highlighted key points after meeting with FUN's CFO, including: 1) Positive Operating Trends Through July 4 Driven by Solid per Capita Growth; 2) Fast Lane Represents a Substantial Opportunity In Both the Near and Long Term; 3) Premium Offerings Should Drive Sustainable Boost in per Capita Spending; 4) Introduction of New E-commerce Platform Drives Strong Advance Purchase Commitments and Spending Elasticity; and 4) Incrementally Confident in a 2013 Distribution North of $2.00 Per Unit (current annual dividend is $1.60 (5.00%)
Notably, shares of Six Flags Entertainment (NYSE: SIX) are trading up 1.45% this morning and are also close to a 52-week high. Both stocks, SIX & FUN are up about 50% in the past 12 months, and 150-200% higher when looking at a 24-month chart. People are obviously enjoying the theme parks, and to that point, Disney (NYSE: DIS) has gone through some ups & downs (Media, Parks, Consumer Products, Interactive, & Film), but their theme park business has been a solid piece of their overall business.
The Company, along with its affiliated companies (the Partnership), is an amusement park operator, which owns 11 amusement parks, six outdoor water parks, one indoor water park and five hotels. (popular locations include Cedar Point, Kings Island and Knott's Berry Farm)
This morning, KeyBanc reiterated its 'Buy' rating on the stock and raised its price target from $35 to $40.
KeyBanc analyst, Scott W. Hamann, highlighted key points after meeting with FUN's CFO, including: 1) Positive Operating Trends Through July 4 Driven by Solid per Capita Growth; 2) Fast Lane Represents a Substantial Opportunity In Both the Near and Long Term; 3) Premium Offerings Should Drive Sustainable Boost in per Capita Spending; 4) Introduction of New E-commerce Platform Drives Strong Advance Purchase Commitments and Spending Elasticity; and 4) Incrementally Confident in a 2013 Distribution North of $2.00 Per Unit (current annual dividend is $1.60 (5.00%)
Notably, shares of Six Flags Entertainment (NYSE: SIX) are trading up 1.45% this morning and are also close to a 52-week high. Both stocks, SIX & FUN are up about 50% in the past 12 months, and 150-200% higher when looking at a 24-month chart. People are obviously enjoying the theme parks, and to that point, Disney (NYSE: DIS) has gone through some ups & downs (Media, Parks, Consumer Products, Interactive, & Film), but their theme park business has been a solid piece of their overall business.
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