Cedar Fair (NYSE:FUN) Now Covered by StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Cedar Fair (NYSE:FUN) in a research report issued on Tuesday. The firm set a “hold” rating on the stock.

A number of other equities analysts have also recently issued reports on FUN. Truist Financial increased their price objective on shares of Cedar Fair from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Morgan Stanley raised their price target on shares of Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday. B. Riley raised their price target on shares of Cedar Fair from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Finally, Mizuho dropped their price target on shares of Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.90.

Cedar Fair Price Performance

FUN stock opened at $56.58 on Tuesday. The stock has a market capitalization of $2.90 billion, a PE ratio of 23.28 and a beta of 1.53. The company’s 50-day moving average is $45.12 and its 200-day moving average is $42.02. Cedar Fair has a 1 year low of $34.04 and a 1 year high of $57.00.

Cedar Fair (NYSE:FUN) last released its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). The company had revenue of $101.62 million for the quarter, compared to the consensus estimate of $91.97 million. Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. On average, analysts anticipate that Cedar Fair will post 3.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cedar Fair

Several institutional investors and hedge funds have recently added to or reduced their stakes in FUN. JPMorgan Chase & Co. increased its stake in Cedar Fair by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock valued at $124,718,000 after buying an additional 1,130,439 shares during the last quarter. Impala Asset Management LLC increased its stake in Cedar Fair by 21.9% in the 3rd quarter. Impala Asset Management LLC now owns 379,040 shares of the company’s stock valued at $14,024,000 after buying an additional 68,150 shares during the last quarter. Aurora Investment Counsel purchased a new stake in Cedar Fair in the 3rd quarter valued at about $2,142,000. Sound Income Strategies LLC increased its stake in Cedar Fair by 44.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after buying an additional 852 shares during the last quarter. Finally, Saxon Interests Inc. purchased a new stake in shares of Cedar Fair during the 4th quarter worth approximately $308,000. Hedge funds and other 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.