Cedar Fair, L.P. (NYSE:FUN) Receives $56.21 Average Target Price from Brokerages

Cedar Fair, L.P. (NYSE:FUN) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $56.21.

Several research firms have weighed in on FUN. The Goldman Sachs Group dropped their target price on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Truist Financial increased their target price on Cedar Fair from $54.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. StockNews.com upgraded Cedar Fair from a “sell” rating to a “hold” rating in a research report on Thursday, December 26th. Finally, Jefferies Financial Group started coverage on shares of Cedar Fair in a research note on Monday, December 9th. They issued a “buy” rating and a $59.00 target price for the company.

Cedar Fair Stock Down 1.1 %

FUN opened at $44.98 on Friday. Cedar Fair has a 12 month low of $35.93 and a 12 month high of $58.70. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32. The business has a 50 day simple moving average of $46.82 and a 200-day simple moving average of $44.71. The stock has a market capitalization of $4.51 billion, a P/E ratio of -70.27 and a beta of 1.56.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $2.96 by ($1.38). The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Cedar Fair had a return on equity of 113.05% and a net margin of 0.99%. During the same period last year, the firm earned $4.21 EPS. On average, equities analysts anticipate that Cedar Fair will post 0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FUN. Torno Capital LLC acquired a new position in shares of Cedar Fair in the 2nd quarter valued at approximately $4,413,000. Mutual of America Capital Management LLC bought a new stake in shares of Cedar Fair in the third quarter worth $260,000. S.A. Mason LLC raised its holdings in Cedar Fair by 63.1% in the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after acquiring an additional 384 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Cedar Fair by 94.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after acquiring an additional 1,400 shares during the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

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.