Cedar Fair (NYSE:FUN) Earns Buy Rating from Analysts at Guggenheim

Guggenheim assumed coverage on shares of Cedar Fair (NYSE:FUN) in a report published on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $52.00 target price on the stock.

A number of other research analysts have also recently issued reports on FUN. JPMorgan Chase & Co. dropped their target price on shares of Cedar Fair from $48.00 to $43.00 and set an “underweight” rating for the company in a report on Monday, September 16th. The Goldman Sachs Group reduced their price objective on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Stifel Nicolaus lowered their target price on Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Morgan Stanley raised their price target on Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, July 1st. Finally, Mizuho decreased their price objective on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.46.

Cedar Fair Stock Performance

NYSE:FUN opened at $42.42 on Tuesday. Cedar Fair has a 1 year low of $34.04 and a 1 year high of $58.70. The stock has a fifty day moving average price of $40.85 and a two-hundred day moving average price of $44.02. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 17.46 and a beta of 1.55.

Cedar Fair (NYSE:FUN) last posted its quarterly 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. 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 analysts’ expectations of $525.57 million. On average, analysts predict that Cedar Fair will post 2.02 EPS for the current year.

Hedge Funds Weigh In On Cedar Fair

A number of institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in Cedar Fair by 10.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after acquiring an additional 300 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in shares of Cedar Fair by 121.9% during the 1st 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 during the period. HAP Trading LLC acquired a new stake in shares of Cedar Fair during the first quarter worth $1,329,000. Cetera Advisors LLC grew its position in shares of Cedar Fair by 10.9% in the first quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock valued at $288,000 after purchasing an additional 675 shares during the period. Finally, Aurora Investment Counsel increased its stake in Cedar Fair by 1.7% in the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock valued at $632,000 after purchasing an additional 253 shares during the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.

About Cedar Fair

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.