Cedar Fair (NYSE:FUN) PT Lowered to $55.00 at Macquarie

Cedar Fair (NYSE:FUN) had its price target cut by Macquarie from $60.00 to $55.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. Mizuho dropped their price target on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group cut their target price on Cedar Fair from $63.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft reduced their target price on Cedar Fair from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Truist Financial cut their price objective on Cedar Fair from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their price objective on Cedar Fair from $48.00 to $43.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. One investment 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 data from MarketBeat.com, Cedar Fair has a consensus rating of “Moderate Buy” and an average price target of $56.42.

Cedar Fair Stock Up 1.3 %

FUN stock opened at $40.03 on Friday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 16.47 and a beta of 1.55. The stock’s fifty day simple moving average is $41.28 and its 200-day simple moving average is $44.01. Cedar Fair has a 52-week low of $34.04 and a 52-week high of $58.70.

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

Institutional Trading of Cedar Fair

Large investors have recently bought and sold shares of the company. Aurora Investment Counsel boosted its stake in shares of Cedar Fair by 1.7% in the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock valued at $632,000 after purchasing an additional 253 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Cedar Fair by 10.0% in the 4th 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 in the last quarter. Cetera Advisors LLC boosted its position 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 during the last quarter. Commonwealth Equity Services LLC boosted its position in Cedar Fair by 4.6% in 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. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Cedar Fair by 94.1% during the second 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. Institutional investors and hedge funds 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.