JPMorgan Chase & Co. Lowers Cedar Fair (NYSE:FUN) Price Target to $43.00

Cedar Fair (NYSE:FUN) had its price target decreased by research analysts at JPMorgan Chase & Co. from $48.00 to $43.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 3.56% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Oppenheimer lifted their target price on shares of Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Morgan Stanley boosted their price objective on Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, July 1st. B. Riley lowered their target price on Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 9th. Citigroup dropped their target price on Cedar Fair from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Macquarie reduced their price target on shares of Cedar Fair from $64.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.18.

Cedar Fair Trading Up 2.3 %

NYSE FUN opened at $41.52 on Monday. The stock has a fifty day simple moving average of $45.65 and a 200-day simple moving average of $44.46. The stock has a market cap of $2.13 billion, a PE ratio of 17.09 and a beta of 1.55. Cedar Fair has a twelve month low of $34.04 and a twelve month high of $58.70.

Cedar Fair (NYSE:FUN) last announced its earnings results on Thursday, August 8th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.02. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. The company had revenue of $571.62 million during the quarter, compared to analyst estimates of $525.57 million. Research analysts predict that Cedar Fair will post 2.78 EPS for the current year.

Institutional Trading of Cedar Fair

Several hedge funds have recently added to or reduced their stakes in FUN. Goldman Sachs Group Inc. increased its position in shares of Cedar Fair by 15.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after purchasing an additional 539,352 shares during the last quarter. UBS Group AG increased its holdings in Cedar Fair by 313.7% in the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock valued at $121,274,000 after buying an additional 2,310,565 shares during the last quarter. Jump Financial LLC acquired a new stake in Cedar Fair in the fourth quarter valued at $617,000. Brookstone Capital Management purchased a new stake in Cedar Fair during the 2nd quarter worth about $215,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Cedar Fair by 26.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,688 shares of the company’s stock worth $418,000 after acquiring an additional 1,620 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.