Cedar Fair (NYSE:FUN) PT Lowered to $65.00

Cedar Fair (NYSE:FUN) had its price objective dropped by equities researchers at B. Riley from $77.00 to $65.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective would indicate a potential upside of 50.53% from the company’s previous close. B. Riley also issued estimates for Cedar Fair’s Q4 2024 earnings at $0.46 EPS, Q2 2025 earnings at $1.81 EPS, Q3 2025 earnings at $4.25 EPS, Q4 2025 earnings at $0.67 EPS and Q2 2026 earnings at $2.05 EPS.

A number of other research analysts have also issued reports on the stock. Truist Financial reduced their target price on shares of Cedar Fair from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. assumed coverage on shares of Cedar Fair in a report on Tuesday, August 6th. They issued an “underweight” rating and a $50.00 target price on the stock. Mizuho reduced their target price on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday. The Goldman Sachs Group restated a “neutral” rating and issued a $63.00 target price on shares of Cedar Fair in a report on Wednesday, July 10th. Finally, StockNews.com assumed coverage on shares of Cedar Fair in a report on Saturday, August 3rd. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.55.

Cedar Fair Stock Performance

NYSE FUN traded down $1.43 during trading hours on Friday, reaching $43.18. The company’s stock had a trading volume of 2,214,917 shares, compared to its average volume of 678,215. The stock has a market cap of $2.21 billion, a PE ratio of 17.77 and a beta of 1.54. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $58.70. The company’s 50-day moving average is $49.17 and its two-hundred day moving average is $44.05.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) EPS for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). The business had revenue of $101.62 million during 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%. Equities analysts expect that Cedar Fair will post 3.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its holdings in Cedar Fair by 201.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock worth $33,000 after acquiring an additional 562 shares during the period. CWM LLC boosted its holdings in Cedar Fair by 932.0% in the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after acquiring an additional 1,864 shares during the period. PNC Financial Services Group Inc. boosted its holdings in 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 acquiring an additional 300 shares during the period. Brookstone Capital Management purchased a new position in Cedar Fair in the 2nd quarter worth approximately $215,000. Finally, Thrive Wealth Management LLC purchased a new position in Cedar Fair in the 2nd quarter worth approximately $252,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

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.