Cedar Fair (NYSE:FUN) Price Target Cut to $58.00 by Analysts at Deutsche Bank Aktiengesellschaft

Cedar Fair (NYSE:FUN) had its price objective lowered by research analysts at Deutsche Bank Aktiengesellschaft from $65.00 to $58.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 54.34% from the company’s previous close.

Several other analysts have also weighed in on the stock. Citigroup dropped their price objective on shares of Cedar Fair from $61.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. B. Riley cut their price objective on Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Stifel Nicolaus reduced their price objective on Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on Cedar Fair from $48.00 to $43.00 and set an “underweight” rating for the company in a research note on Monday, September 16th. Finally, Mizuho reduced their price target on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.92.

Cedar Fair Price Performance

Shares of NYSE:FUN opened at $37.58 on Friday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 15.47 and a beta of 1.55. The business’s fifty day moving average price is $42.62 and its two-hundred day moving average price is $44.20. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $58.70.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, August 8th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.02. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. The business had revenue of $571.62 million for the quarter, compared to analyst estimates of $525.57 million. Research analysts expect that Cedar Fair will post 2.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Cedar Fair

Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its stake in Cedar Fair by 15.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after acquiring an additional 539,352 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Cedar Fair by 10.0% in the 4th 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 during the last quarter. Stock Yards Bank & Trust Co. bought a new position in shares of Cedar Fair in the 1st quarter worth $257,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of Cedar Fair by 121.9% during the first 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. Finally, HAP Trading LLC bought a new stake in Cedar Fair in the first quarter valued at about $1,329,000. 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.