With Memorial Day, the unofficial start to the summer season, behind us, the first real day of the new season is just over three weeks away on Friday, June 21. School soon will be out in most parts of the country, and families are getting ready for the annual exodus to all points north, south, east and west for fun and vacations. Gasoline prices actually have been falling recently, so you can bet that even more families will be hitting the road or the skies for destination vacations.
In addition, many homeowners are getting ready for summer projects to enhance the value and fun of home ownership, and that caters well 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 companies that should do great over the next 90 days. All five are rated Buy at some of the top firms we cover.
Cedar Fair
Plenty of families will be heading to this top company’s theme parks this summer. Cedar Fair LP (NYSE: FUN) is one of the largest regional amusement-resort operators in the world, and it is a publicly traded partnership headquartered in Sandusky, Ohio. Focused on its mission to make people happy by providing fun, immersive and memorable experiences, the company owns and operates 11 amusement parks, including its flagship park, Cedar Point, along with two outdoor water parks, one indoor water park and four hotels.
The company also operates an additional theme park under a management contract. Its parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan and Ontario.
Cedar Fair investors are paid a sizable 7.05% distribution. B. Riley has a Buy rating and a $60 price target on the shares. The Wall Street consensus target price is slightly higher at $61.67. The stock closed last Friday’s trading at $52.56 apiece.
Disney
This company is a top consumer media and entertainment company with multiple streams of income to push revenue and is on the US 1 list at Merrill Lynch. Walt Disney Co. (NYSE: DIS) stock continues outperforming on a near-term and long-term basis as it is the largest publicly traded media and entertainment company and a 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.
Disney stock is up more than 21% so far this year, thanks to an almost 15% surge after the company unveiled more details of its streaming plans at its investor day in April.
Disney shareholders are paid a 1.28% dividend. Merrill Lynch has a price target of $168, which is well above the consensus target of $149.09. The stock closed at $132.79 per share on Friday.
Home Depot
This company remains the undisputed leader in the home improvement retail category, and summertime is huge for the retailer. 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.
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