Cedar Fair (NYSE:FUN) Coverage Initiated by Analysts at Guggenheim

Guggenheim started coverage on shares of Cedar Fair (NYSE:FUN) in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $52.00 price target on the stock.

FUN has been the subject of a number of other reports. Oppenheimer dropped their target price on shares of Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Truist Financial reduced their price objective on Cedar Fair from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft lowered their target price on Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Friday, October 4th. StockNews.com initiated coverage on Cedar Fair in a research note on Wednesday, September 4th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group dropped their price objective on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.46.

Cedar Fair Price Performance

Shares of FUN opened at $39.32 on Tuesday. The business’s 50 day simple moving average is $40.76 and its 200-day simple moving average is $44.00. Cedar Fair has a one year low of $34.38 and a one year high of $58.70. The company has a market capitalization of $3.94 billion, a P/E ratio of 15.92 and a beta of 1.55.

Cedar Fair (NYSE:FUN) last announced its earnings results on Thursday, August 8th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.06 by $0.02. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. The company had revenue of $571.62 million for the quarter, compared to analysts’ expectations of $525.57 million. On average, sell-side analysts anticipate that Cedar Fair will post 2.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. 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 worth $40,000 after purchasing an additional 384 shares during the period. CWM LLC raised its stake in Cedar Fair by 932.0% during the 2nd 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 period. PNC Financial Services Group Inc. raised its stake in Cedar Fair by 10.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after buying an additional 300 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake 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 acquiring an additional 1,400 shares during the period. Finally, Brookstone Capital Management acquired a new position in Cedar Fair in the second quarter valued at about $215,000. 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.