Cedar Fair (NYSE:FUN) PT Lowered to $60.00

Cedar Fair (NYSE:FUN) had its target price reduced by Oppenheimer from $67.00 to $60.00 in a research report released on Tuesday, MarketBeat.com reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Cedar Fair from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Mizuho lowered their price target on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Citigroup reduced their price objective on shares of Cedar Fair from $61.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. B. Riley lowered their target price on shares of Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Morgan Stanley upped their price target on Cedar Fair from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.92.

Cedar Fair Stock Performance

NYSE:FUN opened at $39.53 on Tuesday. The firm has a 50-day simple moving average of $41.28 and a 200-day simple moving average of $43.97. Cedar Fair has a one year low of $34.04 and a one year high of $58.70. The firm has a market cap of $2.03 billion, a P/E ratio of 16.27 and a beta of 1.55.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The company had revenue of $571.62 million during the quarter, compared to the consensus estimate of $525.57 million. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. On average, research analysts predict that Cedar Fair will post 2.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Cedar Fair

A number of institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC lifted its position in Cedar Fair by 932.0% during the second quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after purchasing an additional 1,864 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Cedar Fair by 94.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after buying an additional 1,400 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Cedar Fair by 10.0% in the fourth 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. Brookstone Capital Management acquired a new stake in Cedar Fair during the second quarter worth about $215,000. Finally, Thrive Wealth Management LLC acquired a new stake in Cedar Fair during the second quarter worth about $252,000. Institutional investors and hedge funds 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.