The Goldman Sachs Group Cuts Cedar Fair (NYSE:FUN) Price Target to $39.00

Cedar Fair (NYSE:FUN) had its price objective decreased by investment analysts at The Goldman Sachs Group from $45.00 to $39.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 8.60% from the stock’s previous close.

FUN has been the subject of a number of other reports. Macquarie restated an “outperform” rating and issued a $55.00 price objective on shares of Cedar Fair in a report on Friday, March 7th. Mizuho upped their price target on Cedar Fair from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price objective on Cedar Fair from $46.00 to $28.00 and set an “underweight” rating on the stock in a research report on Thursday, April 17th. Jefferies Financial Group decreased their target price on Cedar Fair from $58.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Barclays started coverage on shares of Cedar Fair in a report on Friday, March 14th. They set an “overweight” rating and a $41.00 price target on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Cedar Fair presently has an average rating of “Moderate Buy” and an average target price of $49.20.

Cedar Fair Trading Up 4.3 %

NYSE FUN opened at $35.91 on Friday. Cedar Fair has a 12 month low of $28.02 and a 12 month high of $58.70. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. The stock’s fifty day moving average price is $35.01 and its 200-day moving average price is $41.85. The stock has a market cap of $3.63 billion, a P/E ratio of -56.11 and a beta of 0.84.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($2.20) EPS for the quarter, beating the consensus estimate of ($2.29) by $0.09. The company had revenue of $202.06 million for the quarter, compared to the consensus estimate of $235.51 million. Cedar Fair had a net margin of 0.99% and a return on equity of 113.05%. The firm’s revenue for the quarter was up 98.9% compared to the same quarter last year. As a group, equities analysts forecast that Cedar Fair will post 0.83 EPS for the current fiscal year.

Institutional Trading of Cedar Fair

A hedge fund recently raised its stake in Cedar Fair stock. Peregrine Capital Management LLC grew its stake in shares of Cedar Fair, L.P. (NYSE:FUN) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,499 shares of the company’s stock after buying an additional 9,231 shares during the period. Peregrine Capital Management LLC owned 0.13% of Cedar Fair worth $4,691,000 at the end of the most recent reporting period. 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.