Cedar Fair, L.P. (NYSE:FUN) Receives $55.46 Average Price Target from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $55.69.

FUN has been the subject of a number of research analyst reports. Oppenheimer decreased their price target on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Citigroup decreased their price objective on shares of Cedar Fair from $61.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Stifel Nicolaus dropped their target price on shares of Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Truist Financial decreased their price target on shares of Cedar Fair from $60.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, StockNews.com downgraded Cedar Fair from a “hold” rating to a “sell” rating in a research report on Friday.

Cedar Fair Stock Down 0.3 %

NYSE:FUN opened at $45.44 on Tuesday. The company’s 50-day simple moving average is $40.64 and its 200-day simple moving average is $44.20. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.39 and a current ratio of 0.64. Cedar Fair has a fifty-two week low of $35.93 and a fifty-two week high of $58.70. The stock has a market capitalization of $4.56 billion, a P/E ratio of 18.40 and a beta of 1.55.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.06 by $0.02. Cedar Fair had a return on equity of 85.04% and a net margin of 2.01%. The firm had revenue of $571.62 million during the quarter, compared to analyst estimates of $525.57 million. On average, equities analysts anticipate that Cedar Fair will post 1.99 earnings per share for the current fiscal year.

Institutional Trading of Cedar Fair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FUN. S.A. Mason LLC raised its position in shares of Cedar Fair by 63.1% in the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock worth $40,000 after acquiring an additional 384 shares during the period. CWM LLC boosted its position in Cedar Fair by 932.0% during the second quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after purchasing an additional 1,864 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Cedar Fair by 94.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after purchasing an additional 1,400 shares during the period. Brookstone Capital Management purchased a new stake in shares of Cedar Fair in the second quarter valued at approximately $215,000. Finally, Thrive Wealth Management LLC acquired a new position in shares of Cedar Fair during the 2nd quarter worth approximately $252,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

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.