Cedar Fair, L.P. (NYSE:FUN) Receives $56.21 Consensus Target Price from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $56.21.

Several brokerages have issued reports on FUN. Oppenheimer dropped their target price on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Truist Financial boosted their target price on shares of Cedar Fair from $54.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. StockNews.com upgraded shares of Cedar Fair from a “sell” rating to a “hold” rating in a report on Thursday, December 26th. JPMorgan Chase & Co. upped their price objective on Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, Macquarie reissued an “outperform” rating and set a $55.00 target price on shares of Cedar Fair in a research note on Thursday, November 7th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its stake 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 worth $157,000 after buying an additional 1,400 shares during the period. Torno Capital LLC acquired a new position in shares of Cedar Fair in the second quarter valued at approximately $4,413,000. S.A. Mason LLC raised its stake in shares of Cedar Fair by 63.1% during the third 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. Finally, Mutual of America Capital Management LLC acquired a new stake in shares of Cedar Fair during the third quarter worth $260,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Cedar Fair Trading Down 1.1 %

Shares of Cedar Fair stock opened at $44.98 on Friday. Cedar Fair has a twelve month low of $35.93 and a twelve month high of $58.70. The firm’s 50-day moving average price is $46.82 and its 200 day moving average price is $44.71. 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 firm has a market capitalization of $4.51 billion, a PE ratio of -70.27 and a beta of 1.56.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $2.96 by ($1.38). The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Cedar Fair had a net margin of 0.99% and a return on equity of 113.05%. During the same period in the prior year, the company posted $4.21 earnings per share. On average, sell-side analysts predict that Cedar Fair will post 0.83 EPS for the current fiscal year.

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.