Cedar Fair (NYSE:FUN) PT Lowered to $74.00

Cedar Fair (NYSE:FUNGet Rating) had its target price cut by stock analysts at Credit Suisse Group from $89.00 to $74.00 in a report released on Thursday, MarketBeat reports. The firm presently has an “outperform” rating on the stock. Credit Suisse Group’s price target suggests a potential upside of 75.07% from the stock’s current price.

Several other equities research analysts have also issued reports on FUN. Stifel Nicolaus lowered their price objective on Cedar Fair from $72.00 to $58.00 in a research note on Thursday, July 7th. KeyCorp set a $55.00 price target on Cedar Fair in a research note on Tuesday, July 19th. Rosenblatt Securities raised their price target on Cedar Fair from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, July 8th. TheStreet lowered Cedar Fair from a “c-” rating to a “d+” rating in a research note on Monday, July 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Cedar Fair from $75.00 to $63.00 in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.88.

Cedar Fair Price Performance

NYSE:FUN opened at $42.27 on Thursday. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 29.15 and a beta of 1.70. Cedar Fair has a 1 year low of $37.78 and a 1 year high of $62.56. The business has a 50 day simple moving average of $43.20 and a 200-day simple moving average of $49.68.

Cedar Fair (NYSE:FUNGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($1.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.96) by $0.40. The business had revenue of $99.00 million during the quarter, compared to analyst estimates of $76.28 million. Cedar Fair had a negative return on equity of 12.64% and a net margin of 4.85%. The company’s revenue for the quarter was up 920.6% on a year-over-year basis. During the same period last year, the company earned ($1.95) EPS. As a group, analysts expect that Cedar Fair will post 4.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. PenderFund Capital Management Ltd. purchased a new position in shares of Cedar Fair in the 1st quarter valued at $41,000. Tyler Stone Wealth Management purchased a new position in Cedar Fair during the 4th quarter worth $33,000. Trustcore Financial Services LLC purchased a new position in Cedar Fair during the 1st quarter worth $39,000. Valley National Advisers Inc. purchased a new position in Cedar Fair during the 1st quarter worth $42,000. Finally, CWM LLC purchased a new position in Cedar Fair during the 4th quarter worth $58,000. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

About Cedar Fair

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Cedar Fair, L.P. owns and operates amusement and water parks, and complementary resort facilities in the United States and Canada. 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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