Cedar Fair (NYSE:FUN) PT Lowered to $58.00 at Citigroup

Cedar Fair (NYSE:FUN) had its target price reduced by Citigroup from $61.00 to $58.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently issued reports on the company. Macquarie reduced their price target on Cedar Fair from $64.00 to $60.00 and set an outperform rating on the stock in a report on Friday, August 9th. StockNews.com assumed coverage on Cedar Fair in a report on Wednesday, September 4th. They set a hold rating on the stock. Morgan Stanley boosted their price target on Cedar Fair from $55.00 to $65.00 and gave the company an overweight rating in a report on Monday, July 1st. Stifel Nicolaus reduced their price target on Cedar Fair from $68.00 to $60.00 and set a buy rating on the stock in a report on Friday, August 9th. Finally, B. Riley reduced their price target on Cedar Fair from $77.00 to $65.00 and set a buy rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $57.91.

Cedar Fair Stock Down 1.8 %

Shares of FUN stock opened at $41.43 on Wednesday. The business has a 50-day moving average price of $44.94 and a two-hundred day moving average price of $44.42. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $58.70. The firm has a market cap of $2.12 billion, a P/E ratio of 17.05 and a beta of 1.55.

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

Institutional Trading of Cedar Fair

Hedge funds have recently made changes to their positions in the stock. Aurora Investment Counsel lifted its position in Cedar Fair by 1.7% in the 1st quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock valued at $632,000 after acquiring an additional 253 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Cedar Fair by 10.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after acquiring an additional 300 shares in the last quarter. Cetera Advisors LLC lifted its position in Cedar Fair by 10.9% in the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock valued at $288,000 after acquiring an additional 675 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Cedar Fair by 4.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after acquiring an additional 826 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in Cedar Fair by 1.1% in the 4th quarter. Brown Advisory Inc. now owns 94,486 shares of the company’s stock valued at $3,761,000 after acquiring an additional 1,000 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.