StockNews.com Begins Coverage on Cedar Fair (NYSE:FUN)

Stock analysts at StockNews.com initiated coverage on shares of Cedar Fair (NYSE:FUN) in a report released on Monday. The firm set a “buy” rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Truist Financial boosted their target price on shares of Cedar Fair from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Mizuho dropped their target price on shares of Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Finally, B. Riley boosted their target price on shares of Cedar Fair from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $51.10.

Cedar Fair Stock Performance

Cedar Fair stock opened at $51.04 on Monday. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $52.53. The stock has a market cap of $2.62 billion, a PE ratio of 21.00 and a beta of 1.45. The firm’s 50-day simple moving average is $42.85 and its 200 day simple moving average is $41.26.

Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Thursday, May 9th. The company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($2.40) by ($0.07). The firm had revenue of $101.62 million for the quarter, compared to analysts’ expectations of $91.97 million. Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. As a group, analysts predict that Cedar Fair will post 3.47 EPS for the current fiscal year.

Institutional Trading of Cedar Fair

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in shares of Cedar Fair by 201.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock worth $33,000 after buying an additional 562 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Cedar Fair by 44.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after buying an additional 852 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Cedar Fair by 10.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after buying an additional 300 shares during the last quarter. Stock Yards Bank & Trust Co. bought a new position in shares of Cedar Fair during the 1st quarter valued at $257,000. Finally, Cetera Advisors LLC lifted its stake in Cedar Fair by 10.9% in the first quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after purchasing an additional 675 shares during the last quarter. Institutional investors own 64.65% of the company’s stock.

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.