Guggenheim Begins Coverage on Cedar Fair (NYSE:FUN)

Stock analysts at Guggenheim assumed coverage on shares of Cedar Fair (NYSE:FUN) in a research note issued on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $52.00 price target on the stock. Guggenheim’s price target points to a potential upside of 26.86% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Truist Financial reduced their price objective on Cedar Fair from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Citigroup reduced their price objective on Cedar Fair from $61.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Macquarie reduced their price objective on Cedar Fair from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Morgan Stanley upped their price objective on Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, July 1st. Finally, Oppenheimer reduced their price objective on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.46.

Cedar Fair Trading Down 3.4 %

NYSE FUN opened at $40.99 on Tuesday. The firm has a market capitalization of $2.10 billion, a P/E ratio of 16.87 and a beta of 1.55. The business has a fifty day simple moving average of $40.76 and a 200 day simple moving average of $44.00. Cedar Fair has a 12 month low of $34.38 and a 12 month high of $58.70.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. The firm had revenue of $571.62 million during the quarter, compared to the consensus estimate of $525.57 million. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. As a group, sell-side analysts predict that Cedar Fair will post 2.02 EPS for the current fiscal year.

Institutional Trading of Cedar Fair

A number of institutional investors have recently added to or reduced their stakes in FUN. S.A. Mason LLC lifted its holdings in Cedar Fair by 63.1% during the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares in the last quarter. CWM LLC raised its holdings in shares of Cedar Fair by 932.0% in the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after acquiring an additional 1,864 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings 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 valued at $131,000 after acquiring an additional 300 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised 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 acquiring an additional 1,400 shares in the last quarter. Finally, Brookstone Capital Management purchased a new stake in shares of Cedar Fair in the 2nd quarter valued at about $215,000. 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.