Cedar Fair (NYSE:FUN) Earns “Outperform” Rating from Macquarie

Cedar Fair (NYSE:FUN)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Macquarie in a research note issued to investors on Thursday,Benzinga reports. They presently have a $55.00 price target on the stock. Macquarie’s price objective would indicate a potential upside of 21.39% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Stifel Nicolaus decreased their price target on Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a 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 for the company in a report on Friday, October 25th. StockNews.com started coverage on Cedar Fair in a report on Wednesday, September 4th. They issued a “hold” rating for the company. JPMorgan Chase & Co. boosted their price target on Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Cedar Fair has an average rating of “Moderate Buy” and a consensus price target of $55.69.

Cedar Fair Stock Performance

NYSE FUN traded down $0.33 during trading hours on Thursday, reaching $45.31. The stock had a trading volume of 1,933,848 shares, compared to its average volume of 972,866. The stock has a fifty day moving average of $40.58 and a 200 day moving average of $44.11. The stock has a market cap of $4.54 billion, a P/E ratio of 18.31 and a beta of 1.55. Cedar Fair has a 52-week low of $35.93 and a 52-week high of $58.70.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results 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 negative return on equity of 23.97% and a net margin of 6.80%. The company had revenue of $571.62 million during the quarter, compared to the consensus estimate of $525.57 million. On average, equities research analysts forecast that Cedar Fair will post 2.14 EPS for the current year.

Institutional Investors Weigh In On Cedar Fair

Institutional investors and hedge funds have recently modified their holdings of the company. S.A. Mason LLC grew its holdings in Cedar Fair by 63.1% during the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after buying an additional 384 shares during the last quarter. CWM LLC grew its holdings in Cedar Fair by 932.0% during the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after buying an additional 1,864 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Cedar Fair by 94.1% during the 2nd 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 purchased a new position in shares of Cedar Fair during the 2nd quarter worth $215,000. Finally, Thrive Wealth Management LLC purchased a new position in shares of Cedar Fair during the 2nd quarter worth $252,000. Institutional investors and hedge funds 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.