Cedar Fair, L.P. (NYSE:FUN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Cedar Fair, L.P. (NYSE:FUN) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $55.46.

Several analysts have commented on the company. Truist Financial lowered their price target on Cedar Fair from $60.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 21st. Guggenheim began coverage on Cedar Fair in a research note on Tuesday, October 29th. They set a “buy” rating and a $52.00 price objective on the stock. Mizuho lowered their target price on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Macquarie reduced their price target on Cedar Fair from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Cedar Fair from $48.00 to $43.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th.

Hedge Funds Weigh In On Cedar Fair

Large investors have recently modified their holdings of the stock. Torno Capital LLC bought a new position in Cedar Fair during the second quarter worth $4,413,000. Brookstone Capital Management acquired a new stake in shares of Cedar Fair during the 2nd quarter worth approximately $215,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Cedar Fair by 26.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,688 shares of the company’s stock worth $418,000 after purchasing an additional 1,620 shares during the last quarter. CWM LLC boosted its position in Cedar Fair by 932.0% during the 2nd 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. Finally, Cetera Advisors LLC grew its position in shares of Cedar Fair by 10.9% during the first quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after acquiring an additional 675 shares during the last quarter. Institutional investors own 64.65% of the company’s stock.

Cedar Fair Trading Up 2.4 %

Shares of FUN stock opened at $41.61 on Tuesday. Cedar Fair has a twelve month low of $35.93 and a twelve month high of $58.70. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 16.85 and a beta of 1.55. The firm has a 50-day moving average price of $40.60 and a 200 day moving average price of $44.05.

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 the consensus estimate of $1.06 by $0.02. The business had revenue of $571.62 million for 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%. As a group, research analysts predict that Cedar Fair will post 2.14 earnings per share for the current year.

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.