Cedar Fair (NYSE:FUN) Price Target Cut to $55.00

Cedar Fair (NYSE:FUN) had its target price dropped by research analysts at Macquarie from $60.00 to $55.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price objective suggests a potential upside of 39.13% from the stock’s current price.

A number of other analysts have also weighed in on FUN. StockNews.com started coverage on Cedar Fair in a report on Wednesday, September 4th. They set a “hold” rating for the company. Stifel Nicolaus decreased their price objective on Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 9th. B. Riley decreased their price objective on Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 9th. Morgan Stanley increased 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a report on Friday, October 4th. 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. According to MarketBeat, Cedar Fair presently has an average rating of “Moderate Buy” and a consensus price target of $56.92.

Cedar Fair Stock Down 2.0 %

Cedar Fair stock opened at $39.53 on Friday. The business has a fifty day moving average of $41.28 and a two-hundred day moving average of $43.98. The firm has a market cap of $2.03 billion, a P/E ratio of 16.27 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 posted its earnings results on Thursday, August 8th. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The company had revenue of $571.62 million during the quarter, compared to analyst estimates of $525.57 million. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. Equities analysts expect that Cedar Fair will post 2.08 earnings per share for the current year.

Hedge Funds Weigh In On Cedar Fair

Several hedge funds have recently made changes to their positions in FUN. CWM LLC increased its position in shares of Cedar Fair by 932.0% in the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after acquiring an additional 1,864 shares during the period. PNC Financial Services Group Inc. grew 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 purchasing an additional 300 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in Cedar Fair by 94.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after purchasing an additional 1,400 shares during the period. Brookstone Capital Management acquired a new stake in Cedar Fair during the 2nd quarter worth about $215,000. Finally, Thrive Wealth Management LLC acquired a new stake in Cedar Fair during the 2nd quarter worth about $252,000. 64.65% of the stock is owned by institutional investors and hedge funds.

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.