StockNews.com Begins Coverage on Cedar Fair (NYSE:FUN)

Research analysts at StockNews.com assumed coverage on shares of Cedar Fair (NYSE:FUN) in a report issued on Tuesday. The brokerage set a “buy” rating on the stock.

A number of other research firms have also recently issued reports on FUN. B. Riley reiterated a “buy” rating and issued a $52.00 price objective (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 research report on Tuesday, March 26th. They set a “buy” rating and a $56.00 price target on the stock. Oppenheimer started coverage on shares of Cedar Fair in a report on Thursday, February 8th. They issued an “outperform” rating and a $49.00 price objective for the company. KeyCorp increased their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, Truist Financial lowered their price target on shares of Cedar Fair from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Friday. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $50.00.

Cedar Fair Price Performance

FUN stock opened at $40.39 on Tuesday. The firm has a 50 day simple moving average of $40.70 and a two-hundred day simple moving average of $39.56. The stock has a market cap of $2.07 billion, a PE ratio of 16.49 and a beta of 1.42. Cedar Fair has a one year low of $34.04 and a one year high of $45.39.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $365.13 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. On average, research analysts expect that Cedar Fair will post 3.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in Cedar Fair by 201.4% in 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 during the period. Sound Income Strategies LLC raised its holdings in shares of Cedar Fair by 44.4% during the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after acquiring an additional 852 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Cedar Fair by 10.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after acquiring an additional 300 shares during the period. Stock Yards Bank & Trust Co. purchased a new position in Cedar Fair during the 1st quarter valued at $257,000. Finally, Saxon Interests Inc. bought a new position in Cedar Fair in the 4th quarter worth $308,000. Hedge funds and other institutional investors 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.