Cedar Fair (NYSE:FUN) Coverage Initiated at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Cedar Fair (NYSE:FUN) in a research report issued to clients and investors on Monday. The firm set a “buy” rating on the stock.

Several other equities analysts have also issued reports on FUN. B. Riley restated a “buy” rating and issued a $52.00 target price (up previously from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Mizuho began coverage on shares of Cedar Fair in a report on Tuesday, March 26th. They issued a “buy” rating and a $56.00 target price on the stock. 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 report on Friday, February 16th. KeyCorp boosted their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, Truist Financial lifted their price target 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. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $50.30.

Cedar Fair Stock Performance

NYSE FUN opened at $38.69 on Monday. The stock has a market cap of $1.97 billion, a PE ratio of 15.79 and a beta of 1.41. The firm’s fifty day moving average price is $40.79 and its two-hundred day moving average price is $39.44. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $45.39.

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

Institutional Investors Weigh In On Cedar Fair

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG grew its position in Cedar Fair by 313.7% in the 4th quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock worth $121,274,000 after purchasing an additional 2,310,565 shares in the last quarter. JPMorgan Chase & Co. grew its position in Cedar Fair by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after purchasing an additional 1,130,439 shares in the last quarter. Barclays PLC grew its position in Cedar Fair by 67.6% in the 3rd quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock worth $85,300,000 after purchasing an additional 930,021 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Cedar Fair in the 3rd quarter worth about $25,215,000. Finally, Goldman Sachs Group Inc. grew its position in Cedar Fair by 15.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock worth $159,553,000 after purchasing an additional 539,352 shares in the last quarter. 64.65% of the stock is owned by institutional investors.

About Cedar Fair

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.