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

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

A number of other research firms also recently weighed in on FUN. Truist Financial lifted their price target on Cedar Fair from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Mizuho reduced their price objective on Cedar Fair from $56.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, B. Riley lifted their price objective on Cedar Fair from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cedar Fair has an average rating of “Buy” and an average target price of $51.10.

Cedar Fair Price Performance

Cedar Fair stock opened at $51.04 on Monday. Cedar Fair has a 1-year low of $34.04 and a 1-year high of $52.53. The company has a market cap of $2.62 billion, a PE ratio of 21.00 and a beta of 1.45. The stock’s 50 day moving average price is $42.85 and its 200 day moving average price is $41.26.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($2.47) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $91.97 million. On average, equities research analysts anticipate that Cedar Fair will post 3.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FUN. UBS Group AG lifted its holdings in Cedar Fair by 313.7% during the 4th quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock worth $121,274,000 after buying an additional 2,310,565 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Cedar Fair by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after purchasing an additional 1,130,439 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Cedar Fair in the 3rd quarter worth approximately $25,215,000. Goldman Sachs Group Inc. lifted its holdings in shares of Cedar Fair by 15.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock worth $159,553,000 after purchasing an additional 539,352 shares during the last quarter. Finally, Impala Asset Management LLC lifted its holdings in shares of Cedar Fair by 21.9% in the 3rd quarter. Impala Asset Management LLC now owns 379,040 shares of the company’s stock worth $14,024,000 after purchasing an additional 68,150 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.