Cedar Fair (NYSE:FUN) Price Target Lowered to $45.00 at Truist Financial

Cedar Fair (NYSE:FUN) had its target price cut by analysts at Truist Financial from $48.00 to $45.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 14.13% from the stock’s current price.

FUN has been the topic of a number of other research reports. StockNews.com initiated coverage on shares of Cedar Fair in a research report on Monday, April 29th. They set a “buy” rating on the stock. Oppenheimer initiated coverage on shares of Cedar Fair in a research report on Thursday, February 8th. They set an “outperform” rating and a $49.00 price objective on the stock. Mizuho initiated coverage on shares of Cedar Fair in a research report on Tuesday, March 26th. They set a “buy” rating and a $56.00 price objective on the stock. B. Riley reissued a “buy” rating and set a $52.00 price objective (up previously from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th. Finally, Stifel Nicolaus increased their price objective on shares of Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $50.00.

Cedar Fair Trading Up 4.1 %

Shares of FUN opened at $39.43 on Friday. The stock has a market capitalization of $2.02 billion, a P/E ratio of 16.09 and a beta of 1.42. The firm’s fifty day simple moving average is $40.69 and its two-hundred day simple moving average is $39.49. Cedar Fair has a 12 month low of $34.04 and a 12 month 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). The firm had revenue of $371.12 million for 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, research analysts predict that Cedar Fair will post 3.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cedar Fair

A number of hedge funds have recently added to or reduced their stakes in FUN. Tower Research Capital LLC TRC lifted its position in shares of Cedar Fair by 201.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock worth $33,000 after buying an additional 562 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of 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 buying an additional 852 shares in the last quarter. PNC Financial Services Group Inc. lifted 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 worth $131,000 after buying an additional 300 shares in the last quarter. Stock Yards Bank & Trust Co. bought a new position in shares of Cedar Fair during the 1st quarter worth approximately $257,000. Finally, Saxon Interests Inc. bought a new position in shares of Cedar Fair during the 4th quarter worth approximately $308,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

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.