Cedar Fair (NYSE:FUN) Receives Outperform Rating from Macquarie

Macquarie reissued their outperform rating on shares of Cedar Fair (NYSE:FUN) in a report published on Thursday morning,Benzinga reports. Macquarie currently has a $55.00 target price on the stock.

FUN has been the topic of a number of other reports. The Goldman Sachs Group lowered their price target on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Stifel Nicolaus dropped their price target on shares of Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft decreased their target price on Cedar Fair from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Oppenheimer cut their price target on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Cedar Fair currently has an average rating of “Moderate Buy” and a consensus target price of $55.69.

Cedar Fair Price Performance

FUN stock traded down $0.15 during trading on Thursday, hitting $45.44. 1,496,992 shares of the stock traded hands, compared to its average volume of 980,551. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 18.41 and a beta of 1.55. Cedar Fair has a 1 year low of $35.93 and a 1 year high of $58.70. The firm’s 50 day moving average is $40.61 and its two-hundred day moving average is $44.12.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.02. The company had revenue of $571.62 million during the quarter, compared to the consensus estimate of $525.57 million. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. As a group, analysts anticipate that Cedar Fair will post 2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Cedar Fair

A number of hedge funds have recently bought and sold shares of the business. S.A. Mason LLC lifted its stake in shares of Cedar Fair by 63.1% in the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares during the last quarter. CWM LLC lifted its stake in Cedar Fair by 932.0% in the second quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after purchasing an additional 1,864 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Cedar Fair by 94.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after purchasing an additional 1,400 shares during the last quarter. Brookstone Capital Management purchased a new position in shares of Cedar Fair during the second quarter valued at approximately $215,000. Finally, Thrive Wealth Management LLC purchased a new position in Cedar Fair during the 2nd quarter valued at $252,000. Hedge funds and other institutional investors 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.