Cedar Fair (NYSE:FUN) Given New $60.00 Price Target at Oppenheimer

Cedar Fair (NYSE:FUN) had its price objective lowered by Oppenheimer from $67.00 to $60.00 in a report released on Tuesday morning, MarketBeat reports. Oppenheimer currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley lifted their price objective on Cedar Fair from $55.00 to $65.00 and gave the company an overweight rating in a research report on Monday, July 1st. JPMorgan Chase & Co. dropped their price objective on shares of Cedar Fair from $48.00 to $43.00 and set an underweight rating for the company in a research note on Monday, September 16th. Citigroup decreased their target price on shares of Cedar Fair from $61.00 to $58.00 and set a buy rating on the stock in a research report on Wednesday, September 18th. Macquarie dropped their price target on shares of Cedar Fair from $64.00 to $60.00 and set an outperform rating for the company in a research report on Friday, August 9th. Finally, Mizuho decreased their price target on shares of Cedar Fair from $55.00 to $52.00 and set an outperform rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cedar Fair presently has a consensus rating of Moderate Buy and an average target price of $57.33.

Cedar Fair Trading Down 0.3 %

NYSE:FUN opened at $39.17 on Tuesday. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $58.70. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 16.12 and a beta of 1.55. The company’s 50-day moving average is $41.51 and its two-hundred day moving average is $44.04.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, beating 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 business had revenue of $571.62 million for the quarter, compared to the consensus estimate of $525.57 million. On average, equities research analysts forecast that Cedar Fair will post 2.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Torno Capital LLC purchased a new stake in shares of Cedar Fair during the 2nd quarter valued at about $4,413,000. HAP Trading LLC purchased a new stake in shares of Cedar Fair during the first quarter valued at approximately $1,329,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in shares of Cedar Fair by 121.9% during the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 24,268 shares of the company’s stock worth $1,017,000 after purchasing an additional 13,332 shares in the last quarter. HM Payson & Co. purchased a new position in shares of Cedar Fair in the first quarter valued at $332,000. Finally, Stock Yards Bank & Trust Co. acquired a new stake in Cedar Fair during the 1st quarter valued at $257,000. 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.