Cedar Fair (NYSE:FUN) PT Lowered to $45.00

Cedar Fair (NYSE:FUN) had its price target reduced by equities researchers at Truist Financial from $48.00 to $45.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 14.13% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Mizuho initiated coverage on Cedar Fair in a research report on Tuesday, March 26th. They set a “buy” rating and a $56.00 price objective on the stock. B. Riley restated a “buy” rating and set a $52.00 price objective (up from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th. Oppenheimer initiated coverage on Cedar Fair in a research report on Thursday, February 8th. They set an “outperform” rating and a $49.00 price objective on the stock. StockNews.com initiated coverage on Cedar Fair in a research report on Monday, April 29th. They set a “buy” rating on the stock. Finally, Stifel Nicolaus boosted their price objective on Cedar Fair from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $50.00.

Cedar Fair Stock Up 4.1 %

Shares of NYSE FUN opened at $39.43 on Friday. The business’s 50 day moving average is $40.69 and its two-hundred day moving average is $39.49. The company has a market cap of $2.02 billion, a P/E ratio of 16.09 and a beta of 1.42. Cedar Fair has a 12 month low of $34.04 and a 12 month high of $45.39.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The business had revenue of $371.12 million during the quarter, compared to the consensus estimate of $365.13 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. Sell-side analysts expect that Cedar Fair will post 3.27 earnings per share for the current fiscal year.

Institutional Trading of Cedar Fair

Several large investors have recently made changes to their positions in FUN. PNC Financial Services Group Inc. lifted its position in Cedar Fair by 10.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after buying an additional 300 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Cedar Fair by 2.3% during the third quarter. Stratos Wealth Partners LTD. now owns 15,685 shares of the company’s stock valued at $580,000 after purchasing an additional 353 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Cedar Fair by 1.5% in the third quarter. Raymond James & Associates now owns 27,960 shares of the company’s stock valued at $1,035,000 after purchasing an additional 405 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Cedar Fair by 201.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock worth $33,000 after purchasing an additional 562 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in Cedar Fair by 44.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after buying an additional 852 shares during the last quarter. Institutional investors 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.