Cedar Fair (NYSE:FUN) PT Raised to $65.00 at Morgan Stanley

Cedar Fair (NYSE:FUN) had its target price raised by Morgan Stanley from $55.00 to $65.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also weighed in on the company. StockNews.com started coverage on Cedar Fair in a research report on Monday, June 24th. They issued a buy rating for the company. 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. Mizuho lowered 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. Finally, 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. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Cedar Fair currently has a consensus rating of Moderate Buy and a consensus target price of $53.90.

Cedar Fair Trading Up 3.4 %

Shares of FUN opened at $56.75 on Monday. The company has a market capitalization of $2.91 billion, a PE ratio of 23.35 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 stock’s 50-day moving average price is $45.50 and its two-hundred day moving average price is $42.12.

Cedar Fair (NYSE:FUN) last announced 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 company had revenue of $101.62 million for the quarter, compared to analyst estimates of $91.97 million. Equities research analysts predict that Cedar Fair will post 3.33 EPS for the current fiscal year.

Cedar Fair Dividend Announcement

The company also recently announced a Variable dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 28th were given a $1.53 dividend. The ex-dividend date was Friday, June 28th. Cedar Fair’s payout ratio is 49.38%.

Hedge Funds Weigh In On Cedar Fair

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its stake in 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 purchasing an additional 562 shares during the last quarter. Sound Income Strategies LLC boosted its stake in 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 purchasing an additional 852 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in 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 purchasing an additional 300 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new position in Cedar Fair during the 1st quarter valued at about $257,000. Finally, Cetera Advisors LLC boosted its stake in shares of Cedar Fair by 10.9% in the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after buying an additional 675 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.