Cedar Fair (NYSE:FUN) Earns “Outperform” Rating from Macquarie

Cedar Fair (NYSE:FUN)‘s stock had its “outperform” rating reaffirmed by research analysts at Macquarie in a research note issued on Thursday,Benzinga reports. They currently have a $55.00 price target on the stock. Macquarie’s target price indicates a potential upside of 21.39% from the stock’s current price.

FUN has been the subject of a number of other 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. JPMorgan Chase & Co. raised their target price on shares of Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a report on Thursday. Mizuho cut their target price on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. StockNews.com began coverage on shares of Cedar Fair in a report on Wednesday, September 4th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group cut their price target on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.69.

Cedar Fair Stock Down 0.7 %

Shares of Cedar Fair stock traded down $0.33 during trading hours on Thursday, hitting $45.31. 1,933,848 shares of the company’s stock traded hands, compared to its average volume of 972,866. The stock has a 50 day simple moving average of $40.58 and a 200-day simple moving average of $44.11. The company has a market cap of $4.54 billion, a PE ratio of 18.31 and a beta of 1.55. Cedar Fair has a twelve month low of $35.93 and a twelve month high of $58.70.

Cedar Fair (NYSE:FUN) last announced its earnings results on Thursday, August 8th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.02. The company had revenue of $571.62 million during the quarter, compared to the consensus estimate of $525.57 million. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. As a group, equities research analysts predict that Cedar Fair will post 2.14 EPS for the current year.

Institutional Investors Weigh In On Cedar Fair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FUN. S.A. Mason LLC grew its position in 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 buying an additional 384 shares during the last quarter. CWM LLC grew its position in Cedar Fair by 932.0% in the second quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after buying an additional 1,864 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position 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 worth $157,000 after buying an additional 1,400 shares during the last quarter. Brookstone Capital Management acquired a new position in Cedar Fair in the second quarter worth approximately $215,000. Finally, Thrive Wealth Management LLC acquired a new position in Cedar Fair in the second quarter worth approximately $252,000. 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.