Cedar Fair (NYSE:FUN) Coverage Initiated at Truist Financial

Research analysts at Truist Financial began coverage on shares of Cedar Fair (NYSE:FUNGet Free Report) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $62.00 price target on the stock. Truist Financial’s price objective indicates a potential upside of 15.86% from the company’s previous close.

A number of other analysts have also weighed in on FUN. Mizuho cut their price objective on Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Oppenheimer upped their price objective on Cedar Fair from $49.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. StockNews.com began coverage on Cedar Fair in a research report on Tuesday, July 2nd. They set a “hold” rating on the stock. Morgan Stanley upped their price objective on Cedar Fair from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, July 1st. Finally, B. Riley upped their price objective on Cedar Fair from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.10.

Check Out Our Latest Analysis on Cedar Fair

Cedar Fair Stock Down 3.4 %

NYSE:FUN opened at $53.52 on Tuesday. The stock’s fifty day moving average is $46.88 and its two-hundred day moving average is $42.63. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $58.70. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 22.02 and a beta of 1.53.

Cedar Fair (NYSE:FUNGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($2.47) EPS for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. The firm had revenue of $101.62 million for the quarter, compared to analyst estimates of $91.97 million. On average, sell-side analysts expect that Cedar Fair will post 3.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Cedar Fair

Hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its stake in shares of Cedar Fair by 15.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock worth $159,553,000 after buying an additional 539,352 shares during the period. UBS Group AG boosted its stake in shares of Cedar Fair by 313.7% during the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock worth $121,274,000 after buying an additional 2,310,565 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Cedar Fair by 50.5% during the third quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after buying an additional 1,130,439 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Cedar Fair during the fourth quarter worth about $463,000. Finally, Jump Financial LLC acquired a new stake in shares of Cedar Fair during the fourth quarter worth about $617,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

About Cedar Fair

(Get Free Report)

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.

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Analyst Recommendations for Cedar Fair (NYSE:FUN)

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