Cedar Fair (NYSE:FUN) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Cedar Fair (NYSE:FUN) from a hold rating to a sell rating in a research report released on Friday morning.

Several other research firms have also recently issued reports on FUN. Truist Financial decreased their target price on shares of Cedar Fair from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Guggenheim initiated coverage on shares of Cedar Fair in a research note on Tuesday, October 29th. They set a “buy” rating and a $52.00 price objective for the company. Mizuho cut their target price on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Citigroup lowered their price target on Cedar Fair from $61.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. raised their price objective on Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.69.

Cedar Fair Trading Down 0.3 %

Shares of FUN opened at $45.44 on Friday. Cedar Fair has a fifty-two week low of $35.93 and a fifty-two week high of $58.70. The company has a market capitalization of $4.56 billion, a PE ratio of 18.40 and a beta of 1.55. The stock has a fifty day moving average of $40.64 and a two-hundred day moving average of $44.25. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.39 and a current ratio of 0.64.

Cedar Fair (NYSE:FUN) last released its earnings results on Thursday, August 8th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.02. The firm had revenue of $571.62 million for the quarter, compared to the consensus estimate of $525.57 million. Cedar Fair had a return on equity of 85.04% and a net margin of 2.01%. As a group, analysts forecast that Cedar Fair will post 1.99 EPS for the current year.

Institutional Investors Weigh In On Cedar Fair

A number of hedge funds have recently bought and sold shares of the business. Aurora Investment Counsel lifted its stake in shares of Cedar Fair by 1.7% in the 1st quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock worth $632,000 after acquiring an additional 253 shares during the period. S.A. Mason LLC increased its position in Cedar Fair by 63.1% in the 3rd 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 last quarter. Cetera Advisors LLC raised its stake in shares of Cedar Fair by 10.9% during the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after purchasing an additional 675 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Cedar Fair by 4.6% in the second quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after acquiring an additional 826 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings 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 purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds 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.