Cedar Fair (NYSE:FUN) Price Target Cut to $43.00

Cedar Fair (NYSE:FUN) had its price objective trimmed by JPMorgan Chase & Co. from $48.00 to $43.00 in a report published on Monday, Benzinga reports. The brokerage currently has an underweight rating on the stock.

FUN has been the subject of several other reports. Mizuho reduced 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. Citigroup decreased their target price on shares of Cedar Fair from $64.00 to $61.00 and set a buy rating for the company in a report on Friday, August 9th. Truist Financial cut their price target on shares of Cedar Fair from $62.00 to $60.00 and set a buy rating on the stock in a report on Friday, August 9th. StockNews.com started coverage on Cedar Fair in a research report on Wednesday, September 4th. They issued a hold rating on the stock. Finally, Oppenheimer increased their target price on Cedar Fair from $49.00 to $67.00 and gave the company an outperform rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $57.91.

Cedar Fair Price Performance

FUN stock opened at $42.18 on Monday. The firm has a 50-day moving average of $45.13 and a 200 day moving average of $44.44. The company has a market cap of $2.16 billion, a P/E ratio of 17.36 and a beta of 1.55. Cedar Fair has a 1 year low of $34.04 and a 1 year high of $58.70.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings results 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 net margin of 6.80% and a negative return on equity of 23.97%. The company had revenue of $571.62 million during the quarter, compared to analyst estimates of $525.57 million. On average, equities research analysts expect that Cedar Fair will post 2.78 earnings per share for the current fiscal 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. CWM LLC raised its position in shares of Cedar Fair by 932.0% during the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after purchasing an additional 1,864 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Cedar Fair by 10.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after acquiring an additional 300 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Cedar Fair by 94.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after acquiring an additional 1,400 shares during the period. Brookstone Capital Management purchased a new stake in shares of Cedar Fair during the second quarter worth about $215,000. Finally, Thrive Wealth Management LLC purchased a new stake in shares of Cedar Fair during the second quarter worth about $252,000. 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.