Cedar Fair (NYSE:FUN) Price Target Raised to $50.00 at Truist Financial

Cedar Fair (NYSE:FUN) had its target price lifted by Truist Financial from $45.00 to $50.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 13.43% from the stock’s current price.

FUN has been the topic of several other reports. Mizuho initiated 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. B. Riley reissued 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. Oppenheimer began coverage on Cedar Fair in a research report on Thursday, February 8th. They set an “outperform” rating and a $49.00 price objective for the company. StockNews.com assumed coverage on shares of Cedar Fair in a research report on Tuesday. They set a “buy” rating on the stock. Finally, KeyCorp increased their price objective on Cedar Fair from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cedar Fair currently has an average rating of “Buy” and a consensus price target of $50.50.

Cedar Fair Stock Up 1.4 %

Shares of Cedar Fair stock traded up $0.59 on Friday, hitting $44.08. 313,366 shares of the company traded hands, compared to its average volume of 212,469. The company has a 50-day moving average price of $40.77 and a 200 day moving average price of $39.63. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $45.39. The company has a market cap of $2.26 billion, a PE ratio of 17.92 and a beta of 1.42.

Cedar Fair (NYSE:FUN) last released its earnings results on Thursday, May 9th. The company reported ($2.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). The firm had revenue of $101.62 million for the quarter, compared to analyst estimates of $91.97 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. Equities research analysts anticipate that Cedar Fair will post 3.23 EPS for the current year.

Institutional Investors Weigh In On Cedar Fair

Several institutional investors have recently added to or reduced their stakes in the business. UBS Group AG grew its position in Cedar Fair by 313.7% during the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock worth $121,274,000 after buying an additional 2,310,565 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Cedar Fair by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock valued at $124,718,000 after purchasing an additional 1,130,439 shares during the period. Barclays PLC boosted its stake in shares of Cedar Fair by 67.6% during the 3rd quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock valued at $85,300,000 after buying an additional 930,021 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Cedar Fair during the third quarter valued at approximately $25,215,000. Finally, Goldman Sachs Group Inc. raised its stake in Cedar Fair by 15.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock worth $159,553,000 after acquiring an additional 539,352 shares during the period. Hedge funds and other institutional investors 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.