Cedar Fair (NYSE:FUN) PT Lowered to $54.00

Cedar Fair (NYSE:FUN) had its target price cut by Truist Financial from $60.00 to $54.00 in a research note published on Monday, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus dropped their target price on shares of Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on Cedar Fair from $48.00 to $43.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Oppenheimer reduced their target price on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Mizuho cut their price target on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, B. Riley decreased their price objective on Cedar Fair from $77.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.42.

Cedar Fair Trading Down 1.3 %

FUN stock opened at $39.39 on Monday. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 16.21 and a beta of 1.55. The firm has a 50 day moving average of $41.11 and a 200-day moving average of $43.96. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $58.70.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.02. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. The firm had revenue of $571.62 million during the quarter, compared to analysts’ expectations of $525.57 million. Sell-side analysts forecast that Cedar Fair will post 2.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cedar Fair

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