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

Cedar Fair (NYSE:FUN) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Other research analysts have also issued research reports about the company. B. Riley reduced their price target on Cedar Fair from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 18th. Citigroup upgraded Cedar Fair from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $46.00 in a report on Friday. The Goldman Sachs Group reduced their price target on Cedar Fair from $50.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, July 24th. Macquarie reduced their price target on Cedar Fair from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, August 21st. Finally, KeyCorp reduced their price target on Cedar Fair from $54.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Cedar Fair Stock Performance

Shares of FUN stock opened at $38.25 on Friday. The stock’s fifty day moving average is $37.72 and its two-hundred day moving average is $39.78. The firm has a market capitalization of $1.95 billion, a P/E ratio of 8.39 and a beta of 1.45. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $47.95.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Cedar Fair had a negative return on equity of 22.58% and a net margin of 14.73%. The company had revenue of $500.98 million for the quarter, compared to analyst estimates of $502.70 million. During the same quarter last year, the firm posted $0.89 EPS. On average, equities analysts forecast that Cedar Fair will post 2.28 earnings per share for the current year.

Hedge Funds Weigh In On Cedar Fair

Institutional investors have recently bought and sold shares of the company. PenderFund Capital Management Ltd. acquired a new position in Cedar Fair in the 1st quarter valued at about $41,000. Money Concepts Capital Corp acquired a new position in Cedar Fair in the 4th quarter valued at about $26,000. Tower Research Capital LLC TRC grew its position in Cedar Fair by 355.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock valued at $38,000 after acquiring an additional 636 shares in the last quarter. CENTRAL TRUST Co acquired a new position in Cedar Fair in the 2nd quarter valued at about $46,000. Finally, Ancora Advisors LLC grew its position in Cedar Fair by 34.6% in the 1st quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock valued at $106,000 after acquiring an additional 550 shares in the last quarter. 61.81% of the stock is owned by institutional investors and hedge funds.

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.