Cedar Fair (NYSE:FUN) PT Lowered to $43.00

Cedar Fair (NYSE:FUN) had its target price cut by research analysts at JPMorgan Chase & Co. from $48.00 to $43.00 in a report issued on Monday, Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 5.83% from the stock’s previous close.

Several other equities research analysts also recently commented on FUN. Oppenheimer boosted their target price on shares of Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Morgan Stanley upped their price objective on shares of Cedar Fair from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, July 1st. Citigroup cut their target price on shares of Cedar Fair from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Stifel Nicolaus decreased their price target on Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, The Goldman Sachs Group reduced their price objective on Cedar Fair from $63.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $58.18.

Cedar Fair Price Performance

Shares of FUN traded down $0.25 on Monday, reaching $40.63. 134,096 shares of the stock traded hands, compared to its average volume of 816,488. The stock’s 50-day moving average price is $45.97 and its 200-day moving average price is $44.47. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 16.72 and a beta of 1.55. Cedar Fair has a 12 month low of $34.04 and a 12 month high of $58.70.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. The company had revenue of $571.62 million during the quarter, compared to analysts’ expectations of $525.57 million. As a group, equities research analysts forecast that Cedar Fair will post 2.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cedar Fair

A number of hedge funds and other institutional investors have recently bought and sold shares of FUN. Torno Capital LLC bought a new position in shares of Cedar Fair in the 2nd quarter worth $4,413,000. Benjamin F. Edwards & Company Inc. boosted its holdings in 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 last quarter. Commonwealth Equity Services LLC grew its position in shares of 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. Ameritas Advisory Services LLC increased its stake in shares of Cedar Fair by 31.1% in the 2nd quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock valued at $642,000 after acquiring an additional 2,804 shares during the last quarter. Finally, Brookstone Capital Management acquired a new stake in shares of Cedar Fair in the 2nd quarter valued at approximately $215,000. 64.65% of the stock is owned by institutional investors.

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.