StockNews.com Initiates Coverage on Cedar Fair (NYSE:FUN)

Equities researchers at StockNews.com assumed coverage on shares of Cedar Fair (NYSE:FUN) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the stock.

Several other brokerages have also issued reports on FUN. Truist Financial increased their target price on shares of Cedar Fair from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Stifel Nicolaus boosted their target price on Cedar Fair from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Mizuho cut their price target on Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Oppenheimer started coverage on Cedar Fair in a report on Thursday, February 8th. They set an “outperform” rating and a $49.00 price objective for the company. Finally, B. Riley reiterated a “buy” rating and issued a $52.00 target price (up from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $50.40.

Cedar Fair Trading Up 0.6 %

Shares of Cedar Fair stock opened at $43.83 on Thursday. The business has a 50-day moving average price of $41.08 and a two-hundred day moving average price of $40.24. Cedar Fair has a 1-year low of $34.04 and a 1-year high of $45.76. The company has a market cap of $2.25 billion, a P/E ratio of 18.04 and a beta of 1.42.

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

Institutional Investors Weigh In On Cedar Fair

A number of institutional investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC grew its holdings 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 acquiring an additional 675 shares in the last quarter. HAP Trading LLC purchased a new stake in shares of Cedar Fair during the 1st quarter valued at $1,329,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised 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. Stock Yards Bank & Trust Co. purchased a new position in shares of Cedar Fair in the 1st quarter worth about $257,000. Finally, PNC Financial Services Group Inc. grew 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 valued at $131,000 after buying an additional 300 shares during the period. 64.65% of the stock is owned by 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.