Cedar Fair (NYSE:FUN) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Cedar Fair (NYSE:FUN) in a research report issued on Saturday. The brokerage set a “buy” rating on the stock.

Other research analysts also recently issued research reports about the company. KeyCorp upped their price objective on Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Truist Financial upped their price objective on Cedar Fair from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Stifel Nicolaus upped their price objective on Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Mizuho assumed coverage on Cedar Fair in a report on Tuesday, March 26th. They set a “buy” rating and a $56.00 price objective on the stock. Finally, B. Riley reissued a “buy” rating and issued a $52.00 price target (up previously from $50.00) on shares of Cedar Fair in a research note on Friday, February 16th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $50.30.

Cedar Fair Price Performance

NYSE FUN opened at $39.19 on Friday. The firm has a market cap of $2.00 billion, a PE ratio of 16.00 and a beta of 1.41. Cedar Fair has a one year low of $34.04 and a one year high of $45.39. The stock’s 50 day simple moving average is $41.49 and its 200 day simple moving average is $39.29.

Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. The business had revenue of $371.12 million for the quarter, compared to the consensus estimate of $365.13 million. As a group, equities analysts expect that Cedar Fair will post 3.28 earnings per share for the current year.

Institutional Trading of Cedar Fair

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in Cedar Fair by 67.6% during the 3rd quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock worth $85,300,000 after purchasing an additional 930,021 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Cedar Fair by 50.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after purchasing an additional 1,130,439 shares in the last quarter. Aurora Investment Counsel bought a new position in Cedar Fair during the 3rd quarter worth about $2,142,000. Leith Wheeler Investment Counsel Ltd. increased its holdings in Cedar Fair by 26.4% during the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 171,373 shares of the company’s stock worth $6,341,000 after purchasing an additional 35,818 shares in the last quarter. Finally, Saxon Interests Inc. bought a new position in Cedar Fair during the 4th quarter worth about $308,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

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.