Cedar Fair (NYSE:FUN) Price Target Cut to $58.00

Cedar Fair (NYSE:FUNGet Rating) had its price target dropped by equities researchers at Truist Financial from $67.00 to $58.00 in a note issued to investors on Thursday, The Fly reports. Truist Financial’s target price would indicate a potential upside of 37.21% from the company’s previous close.

A number of other brokerages have also commented on FUN. TheStreet lowered Cedar Fair from a “c-” rating to a “d+” rating in a report on Monday, July 18th. Credit Suisse Group decreased their price objective on Cedar Fair from $89.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday. KeyCorp set a $55.00 price objective on Cedar Fair in a report on Tuesday, July 19th. Stifel Nicolaus decreased their price objective on Cedar Fair from $72.00 to $58.00 in a report on Thursday, July 7th. Finally, Rosenblatt Securities decreased their price objective on Cedar Fair from $51.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Cedar Fair currently has a consensus rating of “Moderate Buy” and an average price target of $58.88.

Cedar Fair Price Performance

Shares of Cedar Fair stock opened at $42.27 on Thursday. Cedar Fair has a one year low of $37.78 and a one year high of $62.56. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 29.15 and a beta of 1.70. The business has a 50-day simple moving average of $43.20 and a 200 day simple moving average of $49.68.

Cedar Fair (NYSE:FUNGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported ($1.56) EPS for the quarter, beating analysts’ consensus estimates of ($1.96) by $0.40. Cedar Fair had a negative return on equity of 12.64% and a net margin of 4.85%. The business had revenue of $99.00 million during the quarter, compared to analyst estimates of $76.28 million. During the same period in the previous year, the company posted ($1.95) EPS. The firm’s revenue was up 920.6% compared to the same quarter last year. On average, sell-side analysts expect that Cedar Fair will post 4.09 EPS for the current year.

Hedge Funds Weigh In On Cedar Fair

Several institutional investors have recently bought and sold shares of FUN. Tyler Stone Wealth Management purchased a new position in Cedar Fair in the fourth quarter valued at approximately $33,000. Trustcore Financial Services LLC purchased a new position in Cedar Fair in the first quarter valued at approximately $39,000. PenderFund Capital Management Ltd. purchased a new position in Cedar Fair in the first quarter valued at approximately $41,000. Valley National Advisers Inc. purchased a new position in Cedar Fair in the first quarter valued at approximately $42,000. Finally, CWM LLC purchased a new position in Cedar Fair in the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

About Cedar Fair

(Get Rating)

Cedar Fair, L.P. owns and operates amusement and water parks, and complementary resort facilities in the United States and Canada. 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.

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