Cedar Fair (NYSE:FUN) Price Target Lowered to $74.00 at Credit Suisse Group

Cedar Fair (NYSE:FUN – Get Rating) had its target price dropped by research analysts at Credit Suisse Group from $89.00 to $74.00 in a report released on Thursday, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group’s price target would indicate a potential upside of 75.07% from the company’s previous close.

A number of other equities analysts have also recently weighed in on FUN. Rosenblatt Securities upped their price target on Cedar Fair from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, July 8th. KeyCorp set a $55.00 price target on Cedar Fair in a report on Tuesday, July 19th. Stifel Nicolaus reduced their price target on Cedar Fair from $72.00 to $58.00 in a report on Thursday, July 7th. Deutsche Bank Aktiengesellschaft cut their price objective on Cedar Fair from $75.00 to $63.00 in a research note on Thursday. Finally, TheStreet lowered Cedar Fair from a “c-” rating to a “d+” rating in a research note on Monday, July 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cedar Fair presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.88.

Cedar Fair Stock Up 3.1 %

Shares of FUN stock opened at $42.27 on Thursday. The stock has a market cap of $2.41 billion, a PE 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 has a 52-week low of $37.78 and a 52-week high of $62.56.

Cedar Fair (NYSE:FUN – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($1.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.96) by $0.40. The business had revenue of $99.00 million during the quarter, compared to analysts’ expectations of $76.28 million. Cedar Fair had a negative return on equity of 12.64% and a net margin of 4.85%. The company’s revenue for the quarter was up 920.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.95) EPS. Sell-side analysts anticipate that Cedar Fair will post 4.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cedar Fair

A number of large investors have recently made changes to their positions in the stock. CWM LLC purchased a new position in Cedar Fair in the fourth quarter worth approximately $58,000. Roosevelt Investment Group LLC grew its position in Cedar Fair by 22.2% in the fourth quarter. Roosevelt Investment Group LLC now owns 16,500 shares of the company’s stock worth $826,000 after acquiring an additional 3,000 shares during the period. Ameritas Advisory Services LLC purchased a new position in Cedar Fair in the fourth quarter worth approximately $394,000. Bank of America Corp DE grew its position in Cedar Fair by 11.0% in the fourth quarter. Bank of America Corp DE now owns 2,975,238 shares of the company’s stock worth $148,940,000 after acquiring an additional 295,613 shares during the period. Finally, InterOcean Capital Group LLC purchased a new position in Cedar Fair in the fourth quarter worth approximately $210,000. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

Cedar Fair Company Profile

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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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