Stifel Nicolaus Trims Cedar Fair (NYSE:FUN) Target Price to $60.00

Cedar Fair (NYSE:FUN) had its target price reduced by Stifel Nicolaus from $68.00 to $60.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer increased their target price on shares of Cedar Fair from $49.00 to $67.00 and gave the company an outperform rating in a research report on Tuesday, July 2nd. Mizuho cut their price objective on shares of Cedar Fair from $55.00 to $52.00 and set an outperform rating for the company in a report on Friday. Truist Financial assumed coverage on Cedar Fair in a report on Tuesday, July 9th. They set a buy rating and a $62.00 target price on the stock. B. Riley increased their price target on Cedar Fair from $52.00 to $59.00 and gave the company a buy rating in a report on Wednesday, June 12th. Finally, StockNews.com initiated coverage on Cedar Fair in a report on Saturday, August 3rd. They issued a hold rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Cedar Fair presently has an average rating of Moderate Buy and a consensus target price of $58.82.

Cedar Fair Stock Performance

NYSE FUN opened at $42.63 on Friday. The business has a fifty day moving average price of $49.16 and a 200 day moving average price of $44.10. The company has a market cap of $2.18 billion, a P/E ratio of 17.54 and a beta of 1.54. Cedar Fair has a one year low of $34.04 and a one year high of $58.70.

Cedar Fair Announces Dividend

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

Institutional Investors Weigh In On Cedar Fair

A number of institutional investors have recently made changes to their positions in FUN. Tower Research Capital LLC TRC boosted its position 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 worth $33,000 after purchasing an additional 562 shares during the period. CWM LLC lifted its stake in Cedar Fair by 932.0% during the second quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after purchasing an additional 1,864 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake 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 worth $131,000 after purchasing an additional 300 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Cedar Fair by 94.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after buying an additional 1,400 shares during the period. Finally, Brookstone Capital Management acquired a new stake in shares of Cedar Fair in the second quarter valued at $215,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

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.