Cedar Fair (NYSE:FUN) PT Lowered to $60.00

Cedar Fair (NYSE:FUN) had its target price reduced by Oppenheimer from $67.00 to $60.00 in a research note published on Tuesday morning, Marketbeat reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Cedar Fair from $48.00 to $43.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Truist Financial dropped their price target on shares of Cedar Fair from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Macquarie dropped their price target on shares of Cedar Fair from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Finally, StockNews.com initiated coverage on shares of Cedar Fair in a research report on Wednesday, September 4th. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Cedar Fair currently has a consensus rating of “Moderate Buy” and an average target price of $57.33.

Cedar Fair Trading Up 1.7 %

Cedar Fair stock opened at $40.34 on Tuesday. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $58.70. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 16.60 and a beta of 1.55. The firm has a 50 day moving average of $41.36 and a 200 day moving average of $43.99.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The business had revenue of $571.62 million during the quarter, compared to analyst estimates of $525.57 million. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. On average, analysts predict that Cedar Fair will post 2.08 EPS for the current year.

Hedge Funds Weigh In On Cedar Fair

Several institutional investors have recently bought and sold shares of FUN. PNC Financial Services Group Inc. lifted its position 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 valued at $131,000 after purchasing an additional 300 shares during the last quarter. Stock Yards Bank & Trust Co. bought a new position in Cedar Fair during the first quarter valued at $257,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in 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 valued at $1,017,000 after purchasing an additional 13,332 shares during the last quarter. HAP Trading LLC bought a new position in Cedar Fair during the first quarter valued at $1,329,000. Finally, Cetera Advisors LLC lifted its position in Cedar Fair by 10.9% during the first 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. Institutional investors 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.