With the unofficial Memorial Day weekend start to the summer behind us, the first real day of the new season is a short three weeks away on Monday June 21. With school soon to be out in most parts of the country, and COVID-19 restrictions largely loosening or over, families are getting ready for their long-awaited annual summer exodus to all points north, south, east and west for fun and vacations. Many reports indicate that this could be the biggest summer travel season in decades.
In addition, many homeowners are getting ready for summer projects to enhance the value and fun of homeownership, and that caters to the big retailers that fill the needs of gardeners, home repair enthusiasts and more.
We screened our 24/7 Wall St. research database and found a host of top stocks that should do great over the next 90 days. Many are rated Buy by the top firms we cover. It is still important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Cedar Fair
Plenty of families will be heading to this top company’s theme parks this summer. Cedar Fair L.P. (NYSE: FUN) owns and operates amusement and water parks, as well as associated resort facilities, in the United States and Canada.
As of February 17, 2021, the company operated 13 properties, which included 11 amusement parks, four separately gated outdoor water parks, and resort accommodations totaling approximately 2,300 rooms and 600 luxury RV sites; as well as an additional theme park in California under a management contract.
Its amusement parks include the following:
- 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, Ontario
- Kings Island, near Cincinnati, Ohio
- Carowinds, in Charlotte, North Carolina
- Kings Dominion, situated near Richmond, Virginia
- California’s Great America, located in Santa Clara, California
- Dorney Park & Wildwater Kingdom, in Allentown, Pennsylvania
- Worlds of Fun, located in Kansas City, Missouri
- Valleyfair, situated near Minneapolis/St. Paul, Minnesota
- Michigan’s Adventure, near Muskegon, Michigan
- Schlitterbahn Waterpark & Resort New Braunfels, in New Braunfels, Texas
- Schlitterbahn Waterpark Galveston, in Galveston, Texas
The company also manages and operates Gilroy Gardens Family Theme Park in Gilroy, California, and it owns and operates the Castaway Bay Indoor Waterpark Resort, Hotel Breakers, Cedar Point’s Express Hotel and Sawmill Creek Resort.
B. Riley has a Buy rating on the shares and recently raised the price target to $75 from $70. The Wall Street consensus target is $61.67, and Cedar Fair stock closed most recently at $45.30 a share.
24/7 Wall St.Disney
This top consumer media company has multiple streams of income to push revenue and is a huge reopening winner. Walt Disney Co. (NYSE: DIS) is the largest publicly traded media and entertainment company and global leader in producing high-quality, branded family entertainment.
Key assets include its theme parks (six locations globally), the ABC TV network, ESPN, FX, National Geographic and other cable networks, iconic film studios (Disney, LucasFilms, Marvel, Pixar, 20th Century Fox), Star India, direct-to-consumer streaming platforms (Disney+, 66% Hulu stake and ESPN+) and consumer products.
This is a giant reopening play for the theme parks, and the company’s Disney+ streaming product has been a massive success. On April 30, after just over 13 months of closure, Disneyland celebrated its second proper grand opening since July of 1955, having closed only rarely and sporadically, and never having been closed for any extended period since the opening in 1955.
The BofA Securities Buy rating comes with a $223 price target, which is well above the consensus target of $207.38. Walt Disney stock closed most recently at $185.88 per share.
Home Depot
This remains the undisputed leader in the home improvement retail category. Home Depot Inc. (NYSE: HD) is the world’s largest home improvement specialty retailer, with 2,270 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.
Home Depot stores sell various building materials, home improvement products, and lawn and garden products, as well as provide installation, home maintenance and professional service programs to do-it-yourself, do-it-for-me and professional customers.
Shares of Home Depot make sense for investors looking for a retail idea that stays in favor all year long. The home improvement giant is a solid addition to growth and income portfolios.
Shareholders receive a 2.07% dividend. The $377 Royal Bank of Canada price target for the Buy-rated shares was raised to $386. The consensus price objective is just $253.44, while Home Depot stock closed most recently at $318.91.
SeaWorld Entertainment
While this company has changed the way they do shows due to a degree of public outcry a few years ago, the parks remain a prime summer attraction. SeaWorld Entertainment Inc. (NASDAQ: SEAS) is a leading theme park company that delivers family-oriented entertainment through a diversified array of offerings and a focus on animal interaction and education.
It also operates water park attractions in Orlando, Florida; San Antonio, Texas; Chula Vista, California; Tampa, Florida; and Williamsburg, Virginia. In addition, the company operates a reservations-only theme park in Orlando, Florida, and a seasonal park in Langhorne, Pennsylvania. It operates a portfolio of 12 theme parks under the SeaWorld, Busch Gardens, Aquatica, Discovery Cove, Water Country USA, Adventure Island and Sesame Place brands.
B. Riley Securities has a Buy rating and recently raised the price target to $72 from $65. The consensus target is lower at $61.80. SeaWorld Entertainment stock was last seen trading at $54.43 per share.
Six Flags Entertainment
This is another theme park giant that is poised to see a massive influx of visitors this summer. Six Flags Entertainment Corp. (NYSE: SIX) owns and operates regional theme and waterparks under the Six Flags name. Its parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues and retail outlets.
As of March 18, 2021, the company operated 26 parks in the United States, Mexico and Canada. It remains the world’s largest regional theme park company and the largest operator of waterparks in North America. In April the company reported revenue of $82 million and attendance of 1.3 million for first quarter 2021. Results for first quarter 2021 are not directly comparable to the same prior year period due to the company’s COVID-19 related suspension of operations and operating restrictions beginning on March 14, 2020.
Stifel recommends buying this stock, and the firm recently raised the price target to $59 from $57. The consensus price target is $53.82, and Six Flags Entertainment stock closed at $45.43 a share.
The reopening of the economy, combined with summer vacation and a ton of pent-up demand, could drive record attendance at theme parks this year. Americans weary of pandemic restrictions and being cooped up for the past 15 months are ready to get out and see our beautiful country again and enjoy themselves.
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