Cedar Fair (NYSE:FUN) Price Target Lowered to $43.00 at JPMorgan Chase & Co.

Cedar Fair (NYSE:FUN) had its price target cut by JPMorgan Chase & Co. from $48.00 to $43.00 in a research note released on Monday, Benzinga reports. They currently have an underweight rating on the stock.

A number of other analysts have also weighed in on the stock. StockNews.com assumed coverage on shares of Cedar Fair in a research report on Wednesday, September 4th. They issued a hold rating on the stock. Citigroup decreased their price target on Cedar Fair from $64.00 to $61.00 and set a buy rating for the company in a research note on Friday, August 9th. Truist Financial dropped their price objective on Cedar Fair from $62.00 to $60.00 and set a buy rating for the company in a report on Friday, August 9th. Mizuho reduced their target price on Cedar Fair from $55.00 to $52.00 and set an outperform rating on the stock in a research note on Friday, August 9th. Finally, The Goldman Sachs Group lowered their target price on shares of Cedar Fair from $63.00 to $55.00 and set a neutral rating for the company in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $57.91.

Cedar Fair Trading Up 1.7 %

Shares of NYSE FUN opened at $42.18 on Monday. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $58.70. The firm’s 50-day moving average price is $45.13 and its 200-day moving average price is $44.44. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 17.36 and a beta of 1.55.

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 company had revenue of $571.62 million during the quarter, compared to the consensus estimate of $525.57 million. On average, equities analysts predict that Cedar Fair will post 2.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Cedar Fair

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC lifted its holdings in shares of 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 last quarter. PNC Financial Services Group Inc. raised its stake in Cedar Fair by 10.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after buying an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Cedar Fair by 94.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after acquiring an additional 1,400 shares in the last quarter. Brookstone Capital Management purchased a new stake in shares of Cedar Fair during the second quarter worth about $215,000. Finally, Thrive Wealth Management LLC acquired a new position in shares of Cedar Fair during the second quarter valued at about $252,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

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.