Cedar Fair LP
Change company Symbol lookup
Select an option...
FUN Cedar Fair LP
NWFFX American Funds New World Fund® Class F-1
CARS Cars.com Inc
AHT Ashford Hospitality Trust Inc
AHII Fyolo Technology Corp
AHH-A Armada Hoffler Properties Inc
AHH Armada Hoffler Properties Inc
AHFD Active Health Foods Inc
AGSO AgriSolar Solutions Inc
AGS PlayAGS Inc
Go

Consumer Discretionary : Hotels, Restaurants & Leisure | Small Cap Value
Company profile

Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels. The amusement parks include Cedar Point, located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm, near Los Angeles, California; Canada's Wonderland, near Toronto, Canada; Kings Island, near Cincinnati, Ohio; Carowinds, in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom (Dorney Park), in Allentown, Pennsylvania; Kings Dominion, near Richmond, Virginia; California's Great America, in Santa Clara, California; Valleyfair, near Minneapolis/St. Paul, Minnesota; Worlds of Fun, in Kansas City, Missouri, and Michigan's Adventure, in Muskegon, Michigan. It manages and operates Gilroy Gardens Family Theme Park in Gilroy, California.

Closing Price
$29.90
Day's Change
0.10 (0.34%)
Bid
--
Ask
--
B/A Size
--
Day's High
30.20
Day's Low
29.25
Volume
(Below Average)
Volume:
402,329

10-day average volume:
501,475
402,329

UPDATE: FedEx, UPS stocks surge to power Dow transports to 9th-straight gain

4:21 pm ET August 10, 2020 (MarketWatch)
Print

By Tomi Kilgore, MarketWatch

Transports' breakout is bullish for the Dow industrials, according to the 100+-year old Dow Theory

Shares of FedEx Corp. and United Parcel Service Inc. surged Monday, to provide a more-than 120-point boost to the Dow Jones Transportation Average, amid bullish analyst comments on the package delivery giants given signs of increasing e-commerce volumes and improved pricing.

FedEx's stock(FDX) shot up 9.0% to $199.98, the highest close since Dec. 7, 2018. The stock has now run up 18.8% amid a 6-day win streak.

UPS's stock(UPS) rose 1.7% to a record close of $159.59, and has climbed 12.2% amid a 5th-straight gain.

FedEx's stock price gain of $16.45 added about 100 points to the Dow transports' price, while UPS's $2.69 price gain was about 16 points.

Meanwhile, the Dow transports shot up 289 points, or 2.7%, to the highest close since Feb. 21, and to outperform the Dow Jones Industrial Average, which hiked up 358 points, or 1.3%.

The Dow transports has soared 12.0% amid a 9-day win streak, which would be the longest such streak since the 9-day stretch ending Jan. 12, 2018.

One of the key tenets of the Dow Theory of market analysis (https://cmtassociation.org/kb/dow-theory-basic-tenets/), which has maintained its relevance among chart watchers for more than a century, is that both the Dow transports and Dow industrials had to confirm each others' trends to validate an important bull- or bear-market signal. Read more about how the Dow Theory beats the broader market (http://www.marketwatch.com/story/a-dow-theory-sell-signal-could-trigger-a-selling-avalanche-2018-03-22).

Also read: Don't dis the Dow Theory just because it's over 100 years old (http://www.marketwatch.com/story/dont-dis-the-dow-theory-just-because-its-over-100-years-old-2018-03-27).

One of the basic ideas behind the Dow Theory is that transports take what the industrials make, so unless people are buying and taking delivery on products that are being made, the economy can't be in sync.

"It is a positive to see transports, the area of the economy which connects products to the demand of the consumer, breaking higher," JC O'Hara, chief market technician at MKM Partners, wrote in a note to clients. "When speaking to the transport sector, we need to highlight the recent price action of [FedEx] and UPS. This gives us insight into the consumer."

Both the transports and industrials were now trading above their June recovery highs. That helped confirm another Dow Theory tenet, which states that uptrends are defined by patterns of higher highs and higher lows.

FedEx's stock (FDX) was spiking higher Monday after Bernstein analyst David Vernon turned bullish, saying "the global recovery absolutely, positively needs FDX." He raised his rating to outperform, after being at market perform since Oct. 19, 2019, while boosting his price target to $225 from $176.

He based his upgrade on better pricing for residential deliveries, continued strength in FDX's Express and air cargo rates and an inflection in margins for the ground business.

"E-commerce parcel pricing is expected to remain strong as the pull forward of e-commerce penetration has strained delivery capacity," Vernon wrote in a research note. "With UPS looking to get 'better, not bigger,' FDX emphasizing returns and the [U.S. Postal Service] curtailing capacity, the rate environment at present is outstanding."

UPS said Friday that it planned to impose fees on large shippers (http://www.marketwatch.com/story/ups-plans-big-holiday-fees-amid-coronavirus-related-shipment-surge-2020-08-07) during the holiday season of as much as $3 per package for ground shipments and up to $4 a package for air shipments to residences, to make up for the added costs to prepare for a surge in online orders. That news comes about a week after UPS reported a big second-quarter earnings beat.

Don't miss: UPS stock rockets to best day ever as surprisingly strong consumer demand produces big earnings beat (http://www.marketwatch.com/story/ups-stock-rockets-toward-best-day-ever-as-surprisingly-strong-consumer-demand-produces-big-earnings-beat-2020-07-30).

BofA Securities analyst Ken Hoexter raised his price target on UPS's stock to $176 from $151, while reiterating his buy rating, saying the surcharges highlight management's new focus on pricing, margins and returns.

Hoexter said the gist of a call he hosted on Friday with UPS Chief Financial Officer Brian Newman was that the changes UPS were making was to become "better, not bigger." That was a shift from UPS's previous strategy, in which margins were hurt as the company frequently made concessions to large shippers for the sake of gaining e-commerce volume.

"Given that UPS provides both a critical and difficult-to-replace service for many of its customers, we believe this strategy shift could drive a multi-year tailwind for financial results," Hoexter wrote.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 10, 2020 16:21 ET (20:21 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2020 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., , and

Copyright © 2020. All rights reserved.