Cedar Fair (NYSE:FUN) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Cedar Fair (NYSE:FUN) to a sell rating in a research note issued to investors on Tuesday.

Several other analysts also recently weighed in on FUN. The Goldman Sachs Group lowered their target price on shares of Cedar Fair from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Truist Financial lowered their target price on shares of Cedar Fair from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Macquarie reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Cedar Fair in a report on Friday, March 7th. JPMorgan Chase & Co. lowered their target price on shares of Cedar Fair from $46.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, April 17th. Finally, Mizuho lifted their target price on shares of Cedar Fair from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.20.

Cedar Fair Price Performance

Cedar Fair stock opened at $36.35 on Tuesday. The stock has a market cap of $3.68 billion, a P/E ratio of -56.80 and a beta of 0.84. The company has a fifty day simple moving average of $35.04 and a 200-day simple moving average of $41.68. Cedar Fair has a 12-month low of $28.02 and a 12-month high of $58.70. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($2.20) EPS for the quarter, topping the consensus estimate of ($2.29) by $0.09. Cedar Fair had a net margin of 0.99% and a return on equity of 113.05%. The firm had revenue of $202.06 million for the quarter, compared to analyst estimates of $235.51 million. The firm’s quarterly revenue was up 98.9% compared to the same quarter last year. Equities analysts expect that Cedar Fair will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling at Cedar Fair

In related news, Director Michelle M. Frymire sold 5,929 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $37.89, for a total transaction of $224,649.81. Following the transaction, the director now owns 7,162 shares in the company, valued at $271,368.18. This represents a 45.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cedar Fair stock. Peregrine Capital Management LLC raised its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,499 shares of the company’s stock after purchasing an additional 9,231 shares during the period. Peregrine Capital Management LLC owned 0.13% of Cedar Fair worth $4,691,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other 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.