Cedar Fair (NYSE:FUN) PT Lowered to $58.00

Cedar Fair (NYSE:FUN) had its price objective lowered by stock analysts at Citigroup from $61.00 to $58.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 37.51% from the stock’s current price.

FUN has been the subject of a number of other research reports. Oppenheimer upped their price objective on Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Morgan Stanley increased their price objective on shares of Cedar Fair from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, July 1st. B. Riley cut their target price on shares of Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, August 9th. StockNews.com started coverage on shares of Cedar Fair in a report on Wednesday, September 4th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of Cedar Fair from $48.00 to $43.00 and set an “underweight” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Cedar Fair currently has an average rating of “Moderate Buy” and a consensus target price of $57.91.

Cedar Fair Stock Up 1.7 %

Shares of NYSE FUN opened at $42.18 on Wednesday. The firm’s 50-day moving average price is $45.13 and its 200-day moving average price is $44.44. Cedar Fair has a 52-week low of $34.04 and a 52-week high of $58.70. The company has a market cap of $2.16 billion, a PE ratio of 17.36 and a beta of 1.55.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, August 8th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The business had revenue of $571.62 million during the quarter, compared to the consensus estimate of $525.57 million. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. As a group, equities research analysts anticipate that Cedar Fair will post 2.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Cedar Fair

A number of hedge funds have recently made changes to their positions in the business. Torno Capital LLC bought a new stake in Cedar Fair during the 2nd quarter valued at approximately $4,413,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Cedar Fair by 94.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after buying an additional 1,400 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Cedar Fair by 4.6% during the second quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock worth $1,022,000 after acquiring an additional 826 shares during the last quarter. Ameritas Advisory Services LLC grew its stake in Cedar Fair by 31.1% during the second quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock valued at $642,000 after acquiring an additional 2,804 shares in the last quarter. Finally, Brookstone Capital Management bought a new stake in Cedar Fair in the 2nd quarter valued at $215,000. Institutional investors 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.