Cedar Fair (NYSE:FUN) Coverage Initiated by Analysts at StockNews.com

Posted by Defense World Staff on May 23rd, 2024

Stock analysts at StockNews.com initiated coverage on shares of Cedar Fair (NYSE:FUN – Get Free Report) in a research report issued to clients and investors on Thursday. The brokerage set a “buy” rating on the stock.

Other analysts also recently issued research reports about the stock. Truist Financial increased their target price 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 lowered their price target on shares of Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. B. Riley reissued a “buy” rating and set a $52.00 target price (up previously from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. KeyCorp boosted their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Finally, Oppenheimer started coverage on shares of Cedar Fair in a research note on Thursday, February 8th. They issued an “outperform” rating and a $49.00 price target for the company. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cedar Fair currently has a consensus rating of “Buy” and an average price target of $50.40.

Get Our Latest Research Report on FUN

Cedar Fair Stock Down 0.3 %

FUN stock opened at $44.32 on Thursday. The business has a 50-day simple moving average of $41.05 and a 200 day simple moving average of $40.18. The company has a market cap of $2.27 billion, a PE ratio of 18.24 and a beta of 1.42. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $45.76.

Cedar Fair (NYSE:FUN – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. The company had revenue of $101.62 million for the quarter, compared to analyst estimates of $91.97 million. On average, analysts anticipate that Cedar Fair will post 3.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Cedar Fair

Hedge funds have recently added to or reduced their stakes in the stock. HAP Trading LLC bought a new position in shares of Cedar Fair during the first quarter valued at $1,329,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in Cedar Fair by 121.9% in the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 24,268 shares of the company’s stock worth $1,017,000 after buying an additional 13,332 shares during the period. Stock Yards Bank & Trust Co. bought a new position in shares of Cedar Fair during the first quarter worth $257,000. PNC Financial Services Group Inc. boosted its position in shares of Cedar Fair by 10.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after acquiring an additional 300 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Cedar Fair by 15.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after acquiring an additional 539,352 shares during the last quarter. 64.65% of the stock is owned by institutional investors.

About Cedar Fair

(Get Free Report)

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.