Cedar Fair (NYSE:FUN) Earns Buy Rating from Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Cedar Fair (NYSE:FUN) in a research note issued on Saturday. The brokerage set a “buy” rating on the stock.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, February 16th. KeyCorp raised their target price on Cedar Fair from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Mizuho assumed coverage on Cedar Fair in a report on Tuesday, March 26th. They set a “buy” rating and a $56.00 price target for the company. Truist Financial raised their price objective on Cedar Fair from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Oppenheimer began coverage on Cedar Fair in a research note on Thursday, February 8th. They set an “outperform” rating and a $49.00 target price for the company. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $50.30.

Cedar Fair Price Performance

Cedar Fair stock opened at $39.20 on Friday. The stock’s fifty day moving average price is $41.49 and its two-hundred day moving average price is $39.28. The firm has a market cap of $2.00 billion, a PE ratio of 16.00 and a beta of 1.41. Cedar Fair has a one year low of $34.04 and a one year high of $45.39.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. The company had revenue of $371.12 million during the quarter, compared to the consensus estimate of $365.13 million. Sell-side analysts expect that Cedar Fair will post 3.28 earnings per share for the current fiscal year.

Institutional Trading of Cedar Fair

Hedge funds and other institutional investors have recently made changes to their positions in the company. Money Concepts Capital Corp acquired a new stake in Cedar Fair during the 4th quarter worth approximately $26,000. Tower Research Capital LLC TRC lifted its holdings in shares of Cedar Fair by 201.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock worth $33,000 after purchasing an additional 562 shares during the period. PenderFund Capital Management Ltd. bought a new stake in shares of Cedar Fair in the first quarter worth $41,000. Ancora Advisors LLC increased its holdings in Cedar Fair by 34.6% in the first quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock valued at $106,000 after purchasing an additional 550 shares during the period. Finally, Sound Income Strategies LLC raised its position in Cedar Fair by 44.4% during the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after purchasing an additional 852 shares during the last quarter. 64.65% of the stock is currently owned by institutional investors.

Cedar Fair Company Profile

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.