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

Cedar Fair (NYSE:FUN) had its target price lifted by equities research analysts at Morgan Stanley from $55.00 to $65.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 18.55% from the company’s previous close.

FUN has been the topic of several other reports. B. Riley boosted their target price on Cedar Fair from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Truist Financial increased their price objective on shares of Cedar Fair from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Mizuho dropped their target price on shares of Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Finally, StockNews.com assumed coverage on Cedar Fair in a research report on Monday, June 24th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Cedar Fair presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.90.

Cedar Fair Price Performance

Shares of FUN stock opened at $54.83 on Monday. Cedar Fair has a 1 year low of $34.04 and a 1 year high of $56.00. The business has a fifty day moving average of $44.75 and a 200 day moving average of $41.91. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 22.56 and a beta of 1.53.

Cedar Fair (NYSE:FUN) last released its quarterly 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). The firm had revenue of $101.62 million for the quarter, compared to analyst estimates of $91.97 million. Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. As a group, equities research analysts expect that Cedar Fair will post 3.47 earnings per share for the current year.

Hedge Funds Weigh In On Cedar Fair

Several large investors have recently bought and sold shares of FUN. Tower Research Capital LLC TRC lifted its holdings in shares of Cedar Fair by 201.4% during the fourth 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 raised its stake in shares of Cedar Fair by 44.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after acquiring an additional 852 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Cedar Fair by 10.0% in the fourth 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 period. Stock Yards Bank & Trust Co. bought a new stake in Cedar Fair during the first quarter valued at about $257,000. Finally, Cetera Advisors LLC boosted its stake in Cedar Fair by 10.9% during 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 period. Institutional investors and hedge funds own 64.65% of the company’s stock.

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.