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

Investment analysts at StockNews.com started coverage on shares of Cedar Fair (NYSE:FUN) in a research note issued on Sunday. The firm set a “buy” rating on the stock.

Other analysts also recently issued reports about the stock. Stifel Nicolaus lifted their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the company a “buy” rating in a report on Friday, February 16th. B. Riley restated a “buy” rating and issued a $52.00 target price (up from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Mizuho began coverage on shares of Cedar Fair in a report on Tuesday, March 26th. They issued a “buy” rating and a $56.00 target price on the stock. Truist Financial boosted their target price on shares of Cedar Fair from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Oppenheimer began coverage on shares of Cedar Fair in a report on Thursday, February 8th. They issued an “outperform” rating and a $49.00 target price on the stock. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $50.30.

Cedar Fair Stock Performance

Shares of NYSE FUN opened at $38.56 on Friday. The company has a market cap of $1.97 billion, a P/E ratio of 15.74 and a beta of 1.41. The firm’s fifty day moving average is $41.16 and its two-hundred day moving average is $39.37. Cedar Fair has a 52-week low of $34.04 and a 52-week high of $45.39.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The company had revenue of $371.12 million during the quarter, compared to the consensus estimate of $365.13 million. Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. As a group, analysts forecast that Cedar Fair will post 3.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cedar Fair

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position 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 valued at $131,000 after buying an additional 300 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Cedar Fair by 2.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 15,685 shares of the company’s stock valued at $580,000 after purchasing an additional 353 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Cedar Fair by 1.5% in the 3rd quarter. Raymond James & Associates now owns 27,960 shares of the company’s stock valued at $1,035,000 after purchasing an additional 405 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Cedar Fair by 201.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after purchasing an additional 562 shares in the last quarter. Finally, Sound Income Strategies LLC raised its holdings in shares of Cedar Fair by 44.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after purchasing an additional 852 shares in the last quarter. 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.