Cedar Fair (NYSE:FUN) Rating Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of Cedar Fair (NYSE:FUN) from a hold rating to a sell rating in a report issued on Friday morning.

A number of other research firms have also recently issued reports on FUN. Deutsche Bank Aktiengesellschaft cut their target price on shares of Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Mizuho reduced their price objective on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus lowered their target price on Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, August 9th. B. Riley cut their price target on Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, The Goldman Sachs Group decreased their price objective on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Cedar Fair has a consensus rating of “Moderate Buy” and an average target price of $55.69.

Cedar Fair Stock Down 0.3 %

Shares of FUN stock opened at $45.44 on Friday. The stock has a market cap of $4.56 billion, a P/E ratio of 18.40 and a beta of 1.55. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.64 and a quick ratio of 0.39. Cedar Fair has a one year low of $35.93 and a one year high of $58.70. The stock has a fifty day moving average price of $40.64 and a 200 day moving average price of $44.25.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, August 8th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.06 by $0.02. Cedar Fair had a return on equity of 85.04% and a net margin of 2.01%. The business had revenue of $571.62 million during the quarter, compared to the consensus estimate of $525.57 million. Analysts predict that Cedar Fair will post 1.99 earnings per share for the current year.

Hedge Funds Weigh In On Cedar Fair

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Aurora Investment Counsel raised its position in shares of Cedar Fair by 1.7% during the 1st quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock valued at $632,000 after acquiring an additional 253 shares during the last quarter. S.A. Mason LLC increased its holdings in Cedar Fair by 63.1% in the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares during the last quarter. Cetera Advisors LLC increased its holdings in Cedar Fair by 10.9% in the first quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock valued at $288,000 after purchasing an additional 675 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Cedar Fair by 4.6% in the second quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after buying an additional 826 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Cedar Fair by 94.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after buying an additional 1,400 shares during the last quarter. 64.65% of the stock is owned by institutional investors.

About Cedar Fair

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its 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, 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 in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.