Cedar Fair (NYSE:FUN) Given New $46.00 Price Target at JPMorgan Chase & Co.

Cedar Fair (NYSE:FUN) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $43.00 to $46.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 1.23% from the company’s previous close.

Several other equities research analysts also recently commented on the company. StockNews.com initiated coverage on Cedar Fair in a report on Wednesday, September 4th. They issued a “hold” rating for the company. Mizuho decreased their price objective on shares of Cedar Fair from $55.00 to $52.00 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 on the stock in a report on Friday, October 4th. Oppenheimer cut their target price on shares of Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group lowered their price target on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Cedar Fair presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.69.

Cedar Fair Stock Down 0.3 %

Cedar Fair stock opened at $45.44 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.39 and a debt-to-equity ratio of 1.98. Cedar Fair has a 1-year low of $35.93 and a 1-year high of $58.70. The company has a fifty day simple moving average of $40.64 and a 200 day simple moving average of $44.17. The company has a market cap of $4.56 billion, a P/E ratio of 18.38 and a beta of 1.55.

Cedar Fair (NYSE:FUN) last released its earnings results on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. Cedar Fair had a return on equity of 85.04% and a net margin of 2.01%. The business had revenue of $571.62 million for the quarter, compared to the consensus estimate of $525.57 million. Research analysts anticipate that Cedar Fair will post 1.99 earnings per share for the current fiscal year.

Institutional Trading of Cedar Fair

A number of institutional investors and hedge funds have recently made changes to their positions in FUN. S.A. Mason LLC grew its position in Cedar Fair by 63.1% in the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after acquiring an additional 384 shares during the last quarter. CWM LLC boosted its position in Cedar Fair by 932.0% in the second quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after buying an additional 1,864 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Cedar Fair by 94.1% during the second 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. Brookstone Capital Management bought a new stake in shares of Cedar Fair during the second quarter worth $215,000. Finally, Thrive Wealth Management LLC acquired a new position in shares of Cedar Fair during the second quarter worth $252,000. Institutional investors own 64.65% of the company’s stock.

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.