Cedar Fair (NYSE:FUN) Coverage Initiated at StockNews.com

Research analysts at StockNews.com started coverage on shares of Cedar Fair (NYSE:FUN) in a research report issued on Saturday. The brokerage set a “hold” rating on the stock.

Several other equities analysts have also recently issued reports on FUN. B. Riley boosted their price objective 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. Mizuho cut their price target on shares of Cedar Fair from $56.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Truist Financial assumed coverage on shares of Cedar Fair in a research report on Tuesday, July 9th. They issued a “buy” rating and a $62.00 price objective for the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $63.00 target price on shares of Cedar Fair in a research report on Wednesday, July 10th. Finally, Morgan Stanley raised their price target on Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, July 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.10.

Cedar Fair Stock Down 6.4 %

Shares of FUN opened at $44.04 on Friday. Cedar Fair has a 52-week low of $34.04 and a 52-week high of $58.70. The stock has a 50 day moving average price of $49.09 and a 200 day moving average price of $43.92. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 18.12 and a beta of 1.54.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, May 9th. The company reported ($2.47) EPS for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). The firm had revenue of $101.62 million for the quarter, compared to analyst estimates of $91.97 million. Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. On average, equities analysts anticipate that Cedar Fair will post 3.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Cedar Fair

Several institutional investors and hedge funds have recently made changes to their positions in the business. Aurora Investment Counsel raised its position in Cedar Fair by 1.7% during the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock worth $632,000 after acquiring an additional 253 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of 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 during the last quarter. Tower Research Capital LLC TRC lifted its stake in Cedar Fair by 201.4% in 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 in the last quarter. Cetera Advisors LLC lifted its stake in Cedar Fair by 10.9% in the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock valued at $288,000 after buying an additional 675 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Cedar Fair by 4.6% during the 2nd 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 last quarter. 64.65% of the stock is currently owned by hedge funds and other 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.