Cedar Fair (NYSE:FUN) PT Lowered to $55.00 at Macquarie

Cedar Fair (NYSE:FUN - Get Free Report) had its price objective dropped by Macquarie from $60.00 to $55.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Macquarie's price target suggests a potential upside of 37.53% from the company's current price.

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Several other research analysts have also issued reports on FUN. Stifel Nicolaus decreased their target price 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 objective on Cedar Fair from $63.00 to $55.00 and set a "neutral" rating for the company in a report on Monday, August 12th. Mizuho lowered their price objective on Cedar Fair from $55.00 to $52.00 and set an "outperform" rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. decreased their price target on shares of Cedar Fair from $48.00 to $43.00 and set an "underweight" rating for the company in a research note on Monday, September 16th. Finally, Truist Financial lowered their price target on shares of Cedar Fair from $62.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $56.92.

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Cedar Fair Price Performance

New Theme Park Powerhouse: Merger Creates Industry-Leading Stock

FUN traded down $0.35 during midday trading on Friday, reaching $39.99. 155,487 shares of the company's stock traded hands, compared to its average volume of 929,541. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 16.46 and a beta of 1.55. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $58.70. The firm has a fifty day moving average of $41.36 and a two-hundred day moving average of $43.99.

Cedar Fair (NYSE:FUN - Get Free Report) last posted 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. The firm had revenue of $571.62 million during the quarter, compared to analysts' expectations of $525.57 million. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. Sell-side analysts forecast that Cedar Fair will post 2.08 EPS for the current year.

Institutional Investors Weigh In On Cedar Fair

Is It Time to Take a Ride on Cedar Fair Stock?

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC lifted its position in Cedar Fair by 932.0% in the 2nd quarter. CWM LLC now owns 2,064 shares of the company's stock valued at $112,000 after acquiring an additional 1,864 shares in the last quarter. 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 valued at $131,000 after purchasing an additional 300 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Cedar Fair by 94.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company's stock valued at $157,000 after buying an additional 1,400 shares during the last quarter. Brookstone Capital Management bought a new stake in Cedar Fair in the 2nd quarter worth about $215,000. Finally, Thrive Wealth Management LLC bought a new stake in Cedar Fair in the 2nd quarter worth about $252,000. Institutional investors own 64.65% of the company's stock.

About Cedar Fair

(Get Free Report)

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.

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