Morgan Stanley Boosts Cedar Fair (NYSE:FUN) Price Target to $65.00

Cedar Fair (NYSE:FUN) had its price objective lifted by Morgan Stanley from $55.00 to $65.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 19.60% from the company’s previous close.

FUN has been the subject of several other reports. StockNews.com assumed coverage on shares of Cedar Fair in a research note on Monday, June 24th. They issued a “buy” rating for the company. Truist Financial boosted their price target on shares of Cedar Fair from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. B. Riley boosted their price target on shares of Cedar Fair from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Finally, Mizuho lowered their price target on shares of Cedar Fair from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $52.10.

Cedar Fair Stock Up 1.2 %

Cedar Fair stock opened at $54.35 on Monday. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $56.00. The company’s 50 day moving average price is $44.15 and its two-hundred day moving average price is $41.71. The stock has a market cap of $2.79 billion, a P/E ratio of 22.37 and a beta of 1.53.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($2.47) EPS for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). The company had revenue of $101.62 million during the quarter, compared to the consensus estimate of $91.97 million. Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. On average, equities analysts anticipate that Cedar Fair will post 3.47 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Aurora Investment Counsel lifted its holdings in Cedar Fair by 1.7% during the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock valued at $632,000 after purchasing an additional 253 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Cedar Fair by 10.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after purchasing an additional 300 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Cedar Fair by 201.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after purchasing an additional 562 shares in the last quarter. Cetera Advisors LLC lifted its stake in shares of Cedar Fair by 10.9% in the first quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after buying an additional 675 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its stake in shares of Cedar Fair by 44.4% in the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after buying an additional 852 shares in the last quarter. 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.