Cedar Fair (NYSE:FUN) Research Coverage Started at Truist Financial

Research analysts at Truist Financial initiated coverage on shares of Cedar Fair (NYSE:FUN) in a research note issued on Tuesday, StockNewsAPI reports. The brokerage set a “buy” rating and a $62.00 price target on the stock. Truist Financial’s price target suggests a potential upside of 9.58% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Mizuho lowered their target price 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. Oppenheimer lifted their price objective on shares of Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. B. Riley lifted their price objective on shares of Cedar Fair from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Morgan Stanley lifted their price objective on shares of Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, July 1st. Finally, StockNews.com started coverage on shares of Cedar Fair in a research note on Tuesday, July 2nd. They set a “hold” rating for the company. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.10.

Cedar Fair Stock Down 1.8 %

FUN stock opened at $56.58 on Tuesday. The firm has a 50 day moving average of $46.24 and a 200 day moving average of $42.44. The stock has a market capitalization of $2.90 billion, a PE ratio of 23.28 and a beta of 1.53. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $58.70.

Cedar Fair (NYSE:FUN) last released its 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 analyst estimates 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 research analysts expect that Cedar Fair will post 3.41 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of Cedar Fair by 201.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after acquiring an additional 562 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Cedar Fair by 44.4% during the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after acquiring an additional 852 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Cedar Fair by 10.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after acquiring an additional 300 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new position in shares of Cedar Fair during the 1st quarter valued at about $257,000. Finally, Cetera Advisors LLC boosted its position in shares of Cedar Fair by 10.9% during the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock valued at $288,000 after acquiring an additional 675 shares during the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.

About Cedar Fair

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.