Cedar Fair (NYSE:FUN) Price Target Raised to $65.00 at Morgan Stanley

Cedar Fair (NYSE:FUN) had its target price upped by Morgan Stanley from $55.00 to $65.00 in a research report report published on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

FUN has been the topic of several other research reports. Truist Financial boosted their price target on shares of Cedar Fair from $45.00 to $50.00 and gave the company a buy rating in a research report on Friday, May 10th. StockNews.com initiated coverage on shares of Cedar Fair in a research report on Monday, June 24th. They issued a buy rating on the stock. B. Riley upped their target price on shares of Cedar Fair from $52.00 to $59.00 and gave the stock a buy rating in a report on Wednesday, June 12th. Finally, Mizuho decreased their target price on shares of Cedar Fair from $56.00 to $55.00 and set a buy rating on the stock in a report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $52.10.

Cedar Fair Stock Down 3.5 %

FUN opened at $52.45 on Monday. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 21.58 and a beta of 1.53. Cedar Fair has a twelve month low of $34.04 and a twelve month high of $56.00. The company’s 50-day moving average price is $44.43 and its two-hundred day moving average price is $41.80.

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

Cedar Fair Announces Dividend

The company also recently declared a Variable dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 28th were given a dividend of $1.53 per share. The ex-dividend date of this dividend was Friday, June 28th. Cedar Fair’s payout ratio is currently 49.38%.

Institutional Investors Weigh In On Cedar Fair

Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in Cedar Fair by 201.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after buying an additional 562 shares during the period. Sound Income Strategies LLC increased its stake 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 acquiring an additional 852 shares in the last quarter. PNC Financial Services Group Inc. increased its stake 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 acquiring an additional 300 shares in the last quarter. Stock Yards Bank & Trust Co. bought a new position in shares of Cedar Fair in the 1st quarter worth about $257,000. Finally, Cetera Advisors LLC increased its stake in shares of Cedar Fair by 10.9% in the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after acquiring an additional 675 shares in the last quarter. Hedge funds and other 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.