StockNews.com Initiates Coverage on Cedar Fair (NYSE:FUN)

Research analysts at StockNews.com began coverage on shares of Cedar Fair (NYSE:FUN) in a research note issued on Sunday. The brokerage set a “buy” rating on the stock.

Other equities analysts also recently issued reports about the stock. KeyCorp boosted their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Stifel Nicolaus boosted their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Truist Financial lifted their price objective on shares of Cedar Fair from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Oppenheimer assumed coverage on shares of Cedar Fair in a research note on Thursday, February 8th. They issued an “outperform” rating and a $49.00 price objective on the stock. Finally, Mizuho assumed coverage on shares of Cedar Fair in a research note on Tuesday, March 26th. They issued a “buy” rating and a $56.00 price objective on the stock. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $50.30.

Cedar Fair Stock Performance

Shares of FUN stock opened at $38.56 on Friday. The company has a market capitalization of $1.97 billion, a P/E ratio of 15.74 and a beta of 1.41. The company’s 50 day moving average price is $41.16 and its two-hundred day moving average price is $39.37. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $45.39.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. The business had revenue of $371.12 million during the quarter, compared to analyst estimates of $365.13 million. Analysts forecast that Cedar Fair will post 3.27 earnings per share for the current year.

Hedge Funds Weigh In On Cedar Fair

A number of hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in shares of Cedar Fair by 10.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after purchasing an additional 300 shares during the period. Goldman Sachs Group Inc. raised its stake in Cedar Fair by 15.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock worth $159,553,000 after buying an additional 539,352 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Cedar Fair by 201.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock worth $33,000 after buying an additional 562 shares during the last quarter. UBS Group AG raised its stake in Cedar Fair by 313.7% during the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock worth $121,274,000 after buying an additional 2,310,565 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in Cedar Fair by 1.1% during the fourth quarter. Brown Advisory Inc. now owns 94,486 shares of the company’s stock worth $3,761,000 after buying an additional 1,000 shares during 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.