Cedar Fair (NYSE:FUN – Get Free Report) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
FUN has been the subject of several other reports. Guggenheim cut their price target on shares of Cedar Fair from $55.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on Cedar Fair from $46.00 to $28.00 and set an “underweight” rating on the stock in a research report on Thursday, April 17th. Macquarie reissued an “outperform” rating and set a $55.00 price objective on shares of Cedar Fair in a research note on Friday, March 7th. Jefferies Financial Group reduced their target price on Cedar Fair from $58.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Truist Financial decreased their target price on Cedar Fair from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.20.
View Our Latest Stock Analysis on Cedar Fair
Cedar Fair Stock Up 1.1%
Cedar Fair (NYSE:FUN – Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($2.20) EPS for the quarter, beating analysts’ consensus estimates of ($2.29) by $0.09. The company had revenue of $202.06 million during the quarter, compared to analyst estimates of $235.51 million. Cedar Fair had a net margin of 0.99% and a return on equity of 113.05%. The firm’s revenue for the quarter was up 98.9% compared to the same quarter last year. On average, equities analysts predict that Cedar Fair will post 0.83 EPS for the current fiscal year.
Insider Transactions at Cedar Fair
In other Cedar Fair news, Director Michelle M. Frymire sold 5,929 shares of Cedar Fair stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $37.89, for a total transaction of $224,649.81. Following the transaction, the director now directly owns 7,162 shares of the company’s stock, valued at approximately $271,368.18. This trade represents a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.
Hedge Funds Weigh In On Cedar Fair
A hedge fund recently raised its stake in Cedar Fair stock. Peregrine Capital Management LLC raised its holdings in shares of Cedar Fair, L.P. (NYSE:FUN – Free Report) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,499 shares of the company’s stock after buying an additional 9,231 shares during the period. Peregrine Capital Management LLC owned about 0.13% of Cedar Fair worth $4,691,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 64.65% of the company’s stock.
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.
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