Cedar Fair (NYSE:FUN) PT Lowered to $40.00

Cedar Fair (NYSE:FUNGet Rating) had its price objective reduced by analysts at Rosenblatt Securities from $51.00 to $40.00 in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has a “neutral” rating on the stock. Rosenblatt Securities’ price objective indicates a potential downside of 5.37% from the company’s current price.

Other analysts also recently issued reports about the company. Credit Suisse Group reduced their target price 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 target price on Cedar Fair in a report on Tuesday, July 19th. Citigroup reduced their target price on Cedar Fair from $67.00 to $55.00 and set a “buy” rating for the company in a report on Friday, July 8th. TheStreet downgraded Cedar Fair from a “c-” rating to a “d+” rating in a report on Monday, July 18th. Finally, Stifel Nicolaus reduced their target price on Cedar Fair from $72.00 to $58.00 in a report on Thursday, July 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.88.

Cedar Fair Stock Performance

NYSE:FUN opened at $42.27 on Thursday. The stock has a 50-day simple moving average of $43.20 and a 200-day simple moving average of $49.68. The stock has a market cap of $2.41 billion, a P/E ratio of 29.15 and a beta of 1.70. Cedar Fair has a 1 year low of $37.78 and a 1 year high of $62.56.

Cedar Fair (NYSE:FUNGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($1.56) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $76.28 million. During the same period in the prior year, the firm posted ($1.95) EPS. The business’s quarterly revenue was up 920.6% compared to the same quarter last year. On average, equities research analysts predict that Cedar Fair will post 4.09 EPS for the current year.

Hedge Funds Weigh In On Cedar Fair

A number of large investors have recently modified their holdings of the business. Belpointe Asset Management LLC raised its stake in shares of Cedar Fair by 5.7% during the 2nd quarter. Belpointe Asset Management LLC now owns 4,618 shares of the company’s stock worth $203,000 after buying an additional 251 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Cedar Fair by 15.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,025 shares of the company’s stock worth $166,000 after buying an additional 400 shares in the last quarter. Truist Financial Corp raised its stake in shares of Cedar Fair by 9.6% during the 1st quarter. Truist Financial Corp now owns 4,653 shares of the company’s stock worth $255,000 after buying an additional 409 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Cedar Fair by 1.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 26,541 shares of the company’s stock worth $1,329,000 after acquiring an additional 497 shares during the period. Finally, Ancora Advisors LLC grew its holdings in shares of Cedar Fair by 34.6% in the 1st quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock worth $106,000 after acquiring an additional 550 shares during the period. 62.78% of the stock is 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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Analyst Recommendations for Cedar Fair (NYSE:FUN)

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