Oppenheimer Increases Cedar Fair (NYSE:FUN) Price Target to $67.00

Cedar Fair (NYSE:FUN) had its price target hoisted by research analysts at Oppenheimer from $49.00 to $67.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 18.42% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday. Mizuho cut their price objective on Cedar Fair from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. B. Riley lifted their price objective on Cedar Fair from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Truist Financial lifted their price objective on Cedar Fair from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, StockNews.com began coverage on Cedar Fair in a research report on Tuesday. They set a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.90.

Cedar Fair Trading Up 3.1 %

Shares of NYSE FUN opened at $56.58 on Tuesday. The stock has a market cap of $2.90 billion, a P/E ratio of 23.28 and a beta of 1.53. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $57.00. The business’s fifty day simple moving average is $45.12 and its 200-day simple moving average is $42.02.

Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Thursday, May 9th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $101.62 million for the quarter, compared to analysts’ expectations of $91.97 million. On average, equities analysts forecast that Cedar Fair will post 3.47 EPS for the current fiscal year.

Institutional Trading of Cedar Fair

Several institutional investors have recently made changes to their positions in the stock. Aurora Investment Counsel grew its stake in shares of Cedar Fair by 1.7% during the 1st quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock valued at $632,000 after buying an additional 253 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Cedar Fair by 10.0% during the 4th 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. Tower Research Capital LLC TRC grew its stake in shares of Cedar Fair by 201.4% during the 4th 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 period. Cetera Advisors LLC grew its stake in shares of Cedar Fair by 10.9% during the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock valued at $288,000 after buying an additional 675 shares during the period. Finally, Sound Income Strategies LLC grew its stake in shares of Cedar Fair by 44.4% during the 4th 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 period. 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.