Cedar Fair, L.P. (NYSE:FUN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $49.20.

Several equities analysts recently issued reports on FUN shares. Jefferies Financial Group cut their target price on Cedar Fair from $58.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus upped their target price on Cedar Fair from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. cut their target price on Cedar Fair from $46.00 to $28.00 and set an “underweight” rating on the stock in a research report on Thursday, April 17th. Truist Financial cut their target price on Cedar Fair from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Barclays upped their target price on Cedar Fair from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday.

Insider Buying and Selling at Cedar Fair

In other Cedar Fair news, Director Michelle M. Frymire sold 5,929 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $37.89, for a total value of $224,649.81. Following the sale, the director now directly owns 7,162 shares of the company’s stock, valued at approximately $271,368.18. This trade represents a 45.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Cedar Fair

A hedge fund recently raised its stake in Cedar Fair stock. Peregrine Capital Management LLC raised its holdings in Cedar Fair, L.P. (NYSE:FUN) by 7.5% during the 1st quarter, according to the company in its most recent Form 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 about 0.13% of Cedar Fair worth $4,691,000 at the end of the most recent quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.

Cedar Fair Stock Performance

Shares of FUN stock opened at $34.22 on Friday. The business’s fifty day simple moving average is $34.85 and its 200-day simple moving average is $41.52. The company has a market cap of $3.46 billion, a PE ratio of -53.47 and a beta of 0.84. 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 has a 12-month low of $28.02 and a 12-month high of $58.70.

Cedar Fair (NYSE:FUN) last released its earnings results on Thursday, May 8th. The company reported ($2.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.29) by $0.09. Cedar Fair had a return on equity of 113.05% and a net margin of 0.99%. The firm had revenue of $202.06 million for the quarter, compared to the consensus estimate of $235.51 million. The firm’s revenue was up 98.9% on a year-over-year basis. Analysts expect that Cedar Fair will post 0.83 earnings per share for the current fiscal year.

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.