Cedar Fair (NYSE:FUN) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Cedar Fair (NYSE:FUN) in a note issued to investors on Tuesday. The firm set a “hold” rating on the stock.

FUN has been the topic of a number of other research reports. B. Riley increased their price objective on shares of Cedar Fair from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Morgan Stanley increased their price objective on shares of Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial increased their price objective on shares of Cedar Fair from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, Mizuho lowered their price objective on shares of Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.90.

Cedar Fair Stock Performance

Shares of NYSE FUN opened at $56.58 on Tuesday. The firm’s 50 day moving average price is $45.12 and its 200-day moving average price is $42.02. The company has a market cap of $2.90 billion, a PE ratio of 23.28 and a beta of 1.53. Cedar Fair has a 52-week low of $34.04 and a 52-week high of $57.00.

Cedar Fair (NYSE:FUN) last issued its earnings results on Thursday, May 9th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by ($0.07). The firm had revenue of $101.62 million during the quarter, compared to the consensus estimate of $91.97 million. Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. On average, analysts forecast that Cedar Fair will post 3.47 earnings per share for the current fiscal year.

Institutional Trading of Cedar Fair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FUN. Tower Research Capital LLC TRC increased its holdings in Cedar Fair by 201.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after buying an additional 562 shares during the last quarter. Sound Income Strategies LLC increased its holdings in Cedar Fair by 44.4% during the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after buying an additional 852 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings 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 valued at $131,000 after buying an additional 300 shares during the last quarter. Stock Yards Bank & Trust Co. purchased a new stake in shares of Cedar Fair in the first quarter worth $257,000. Finally, Cetera Advisors LLC increased its stake 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 worth $288,000 after purchasing an additional 675 shares in the last quarter. 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.