The Goldman Sachs Group Cuts Cedar Fair (NYSE:FUN) Price Target to $47.00

Cedar Fair (NYSE:FUN) had its price target lowered by The Goldman Sachs Group from $55.00 to $47.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also recently issued reports on FUN. Morgan Stanley upped their target price 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. StockNews.com began coverage on shares of Cedar Fair in a report on Wednesday, September 4th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. decreased their target price 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. B. Riley dropped their price target 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.75.

Cedar Fair Stock Up 3.8 %

Shares of FUN opened at $42.07 on Friday. Cedar Fair has a twelve month low of $34.04 and a twelve month high of $58.70. The company has a market capitalization of $2.16 billion, a P/E ratio of 17.31 and a beta of 1.55. The firm has a 50 day moving average of $40.88 and a 200 day moving average of $44.00.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, August 8th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $571.62 million during the quarter, compared to analyst estimates of $525.57 million. On average, sell-side analysts expect that Cedar Fair will post 2.02 EPS for the current year.

Institutional Investors Weigh In On Cedar Fair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. S.A. Mason LLC boosted its position in shares of Cedar Fair by 63.1% in the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares during the period. CWM LLC boosted its holdings in Cedar Fair by 932.0% in the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after buying an additional 1,864 shares during the period. PNC Financial Services Group Inc. increased its stake in Cedar Fair by 10.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after buying an additional 300 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Cedar Fair by 94.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after acquiring an additional 1,400 shares during the period. Finally, Brookstone Capital Management purchased a new position in shares of Cedar Fair in the second quarter valued at about $215,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

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.