Cedar Fair (NYSE:FUN) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Cedar Fair (NYSE:FUN) from a hold rating to a sell rating in a research note released on Friday morning.

Several other equities research analysts have also commented on the stock. Guggenheim started coverage on shares of Cedar Fair in a research report on Tuesday, October 29th. They set a “buy” rating and a $52.00 target price on the stock. Stifel Nicolaus reduced their price objective on Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 9th. Oppenheimer lowered their target price on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Mizuho cut their price target on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Cedar Fair from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.69.

Cedar Fair Stock Performance

FUN traded down $0.15 during trading on Friday, hitting $45.44. The stock had a trading volume of 1,496,992 shares, compared to its average volume of 1,468,792. The firm has a market capitalization of $4.56 billion, a P/E ratio of 18.38 and a beta of 1.55. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.39 and a current ratio of 0.64. Cedar Fair has a twelve month low of $35.93 and a twelve month high of $58.70. The company’s 50-day moving average price is $40.64 and its 200 day moving average price is $44.17.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.02. Cedar Fair had a net margin of 2.01% and a return on equity of 85.04%. The firm had revenue of $571.62 million during the quarter, compared to analysts’ expectations of $525.57 million. On average, equities research analysts forecast that Cedar Fair will post 1.99 EPS for the current fiscal year.

Institutional Trading of Cedar Fair

Hedge funds have recently added to or reduced their stakes in the business. Aurora Investment Counsel lifted its holdings 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 acquiring an additional 253 shares during the period. S.A. Mason LLC raised its stake in Cedar Fair by 63.1% during the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares during the period. Cetera Advisors LLC boosted its holdings 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 valued at $288,000 after purchasing an additional 675 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Cedar Fair by 4.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after buying an additional 826 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Cedar Fair by 94.1% during the 2nd 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 last quarter. 64.65% of the stock is 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.