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

Equities research analysts at StockNews.com assumed coverage on shares of Cedar Fair (NYSE:FUN) in a report released on Wednesday. The firm set a “hold” rating on the stock.

A number of other equities research analysts have also recently weighed in on FUN. Oppenheimer lifted their price target on Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Truist Financial initiated coverage on shares of Cedar Fair in a research report on Tuesday. They issued a “buy” rating and a $62.00 price target on the stock. B. Riley lifted their price objective on shares of Cedar Fair from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Morgan Stanley lifted their price objective on shares of Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, July 1st. Finally, Mizuho cut their target price on shares of Cedar Fair from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.10.

Cedar Fair Stock Down 2.7 %

FUN stock opened at $52.04 on Wednesday. The business has a fifty day simple moving average of $47.16 and a 200-day simple moving average of $42.70. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $58.70. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 21.42 and a beta of 1.53.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($2.47) 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 firm had revenue of $101.62 million during the quarter, compared to analyst estimates of $91.97 million. As a group, analysts expect that Cedar Fair will post 3.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cedar Fair

Several large investors have recently added to or reduced their stakes in FUN. CWM LLC increased its stake in shares of Cedar Fair by 932.0% during the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after purchasing an additional 1,864 shares during the last quarter. HM Payson & Co. purchased a new stake in shares of Cedar Fair during the 1st quarter worth approximately $332,000. Aurora Investment Counsel increased 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 worth $632,000 after purchasing an additional 253 shares during the last quarter. Cetera Advisors LLC increased 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 worth $288,000 after purchasing an additional 675 shares during the last quarter. Finally, HAP Trading LLC purchased a new stake in shares of Cedar Fair during the 1st quarter worth approximately $1,329,000. Institutional investors 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.