Guggenheim Begins Coverage on Cedar Fair (NYSE:FUN)

Guggenheim initiated coverage on shares of Cedar Fair (NYSE:FUN - Free Report) in a research note released on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $52.00 price objective on the stock.

A number of other analysts have also recently commented on FUN. Truist Financial cut their target price on Cedar Fair from $60.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, October 21st. Stifel Nicolaus cut their price objective on Cedar Fair from $68.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group decreased their price target on Cedar Fair from $55.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Cedar Fair from $48.00 to $43.00 and set an "underweight" rating on the stock in a research note on Monday, September 16th. Finally, StockNews.com initiated coverage on shares of Cedar Fair in a research note on Wednesday, September 4th. They issued a "hold" rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.46.

Cedar Fair Price Performance

FUN traded up $0.31 during trading hours on Tuesday, reaching $42.42. The company's stock had a trading volume of 1,478,818 shares, compared to its average volume of 936,719. The business's 50-day moving average is $40.85 and its 200-day moving average is $44.02. The stock has a market cap of $2.17 billion, a PE ratio of 17.46 and a beta of 1.55. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $58.70.

Cedar Fair (NYSE:FUN - Get Free Report) last issued its quarterly 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. 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 the consensus estimate of $525.57 million. Analysts expect that Cedar Fair will post 2.02 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FUN. Aurora Investment Counsel raised its holdings in Cedar Fair by 1.7% during the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company's stock worth $632,000 after purchasing an additional 253 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Cedar Fair by 10.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company's stock valued at $131,000 after purchasing an additional 300 shares in the last quarter. S.A. Mason LLC grew its position 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 buying an additional 384 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Cedar Fair by 10.9% in the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company's stock worth $288,000 after acquiring an additional 675 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Cedar Fair by 4.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company's stock worth $1,022,000 after buying an additional 826 shares during the period. Institutional investors 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.