Cedar Fair (NYSE:FUN) PT Raised to $67.00 at Oppenheimer

Cedar Fair (NYSE:FUN) had its target price boosted by stock analysts at Oppenheimer from $49.00 to $67.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 27.74% from the company’s current price.

Other equities analysts have also issued reports about the company. Truist Financial lifted their price objective on Cedar Fair from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. B. Riley lifted their price objective on Cedar Fair from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Mizuho dropped their price target on Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. StockNews.com began coverage on Cedar Fair in a research report on Tuesday. They set a “hold” rating on the stock. Finally, Morgan Stanley upped their target price on Cedar Fair from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.90.

Cedar Fair Trading Down 3.5 %

NYSE:FUN opened at $52.45 on Tuesday. The stock has a market cap of $2.69 billion, a P/E ratio of 21.58 and a beta of 1.53. The stock’s 50-day moving average is $44.43 and its 200-day moving average is $41.80. Cedar Fair has a 1-year low of $34.04 and a 1-year high of $56.00.

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 the consensus estimate 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, equities analysts forecast that Cedar Fair will post 3.47 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FUN. Aurora Investment Counsel lifted its holdings in Cedar Fair by 1.7% during the 1st quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock worth $632,000 after purchasing an additional 253 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Cedar Fair by 10.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after purchasing an additional 300 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Cedar Fair by 201.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock worth $33,000 after purchasing an additional 562 shares in the last quarter. Cetera Advisors LLC lifted its holdings in Cedar Fair by 10.9% during the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after purchasing an additional 675 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in Cedar Fair by 44.4% during the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after purchasing an additional 852 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Cedar Fair Company Profile

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.