Cedar Fair (NYSE:FUN – Get Rating) had its price target lowered by investment analysts at Truist Financial from $58.00 to $52.00 in a research note issued on Wednesday, The Fly reports. Truist Financial’s price target indicates a potential upside of 25.60% from the stock’s previous close.
Several other equities analysts have also issued reports on FUN. Deutsche Bank Aktiengesellschaft lowered their price target on Cedar Fair from $75.00 to $63.00 in a research report on Thursday, August 4th. B. Riley dropped their target price on shares of Cedar Fair from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, June 21st. Credit Suisse Group reduced their price target on shares of Cedar Fair from $89.00 to $74.00 and set an “outperform” rating for the company in a research report on Thursday, August 4th. StockNews.com lowered Cedar Fair from a “buy” rating to a “hold” rating in a report on Monday, September 26th. Finally, Stifel Nicolaus decreased their price target on Cedar Fair from $72.00 to $58.00 in a research note on Thursday, July 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $58.25.
Cedar Fair Trading Up 1.7 %
Shares of Cedar Fair stock opened at $41.40 on Wednesday. Cedar Fair has a 12 month low of $37.78 and a 12 month high of $62.56. The firm has a market capitalization of $2.36 billion, a P/E ratio of 28.55 and a beta of 1.59. The business has a fifty day simple moving average of $42.56 and a two-hundred day simple moving average of $46.04.
Cedar Fair (NYSE:FUN – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.58). Cedar Fair had a net margin of 4.85% and a negative return on equity of 12.62%. The business had revenue of $509.49 million for the quarter, compared to analysts’ expectations of $530.50 million. Analysts predict that Cedar Fair will post 3.18 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Waratah Capital Advisors Ltd. lifted its stake in shares of Cedar Fair by 234.1% in the 4th quarter. Waratah Capital Advisors Ltd. now owns 1,678,829 shares of the company’s stock worth $84,042,000 after purchasing an additional 1,176,362 shares during the period. UBS Group AG boosted its stake in shares of Cedar Fair by 112.4% during the 1st quarter. UBS Group AG now owns 1,407,705 shares of the company’s stock worth $77,142,000 after acquiring an additional 745,056 shares during the last quarter. Invesco Ltd. grew its position in shares of Cedar Fair by 117.9% during the 1st quarter. Invesco Ltd. now owns 1,226,084 shares of the company’s stock valued at $67,190,000 after acquiring an additional 663,373 shares during the period. Citigroup Inc. increased its stake in shares of Cedar Fair by 2,007.0% in the 1st quarter. Citigroup Inc. now owns 503,468 shares of the company’s stock worth $27,590,000 after purchasing an additional 479,573 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Cedar Fair by 32.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,064,224 shares of the company’s stock worth $46,730,000 after purchasing an additional 261,527 shares during the period. 67.79% of the stock is owned by hedge funds and other institutional investors.
Cedar Fair Company Profile
Cedar Fair, L.P. owns and operates amusement and water parks, and complementary resort facilities in the United States and Canada. 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.
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