Cedar Fair (NYSE:FUN) Stock Rating Lowered by StockNews.com

Cedar Fair (NYSE:FUN) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Other research analysts have also issued reports about the stock. Mizuho reduced their target price on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price target on Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. lifted their price objective on shares of Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday. Macquarie reissued an “outperform” rating and set a $55.00 target price on shares of Cedar Fair in a research note on Thursday. Finally, Guggenheim assumed coverage on shares of Cedar Fair in a research report on Tuesday, October 29th. They set a “buy” rating and a $52.00 price target on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.69.

Cedar Fair Price Performance

NYSE:FUN traded down $0.19 during midday trading on Friday, reaching $45.40. 1,496,992 shares of the company traded hands, compared to its average volume of 980,551. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 18.38 and a beta of 1.55. The company has a fifty day moving average price of $40.61 and a 200 day moving average price of $44.12. Cedar Fair has a twelve month low of $35.93 and a twelve month high of $58.70.

Cedar Fair (NYSE:FUN) last posted its 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. The company had revenue of $571.62 million for the quarter, compared to analysts’ expectations of $525.57 million. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. On average, equities research analysts forecast that Cedar Fair will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FUN. S.A. Mason LLC grew its holdings 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 worth $40,000 after acquiring an additional 384 shares during the last quarter. CWM LLC boosted its position in shares of Cedar Fair by 932.0% in the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after purchasing an additional 1,864 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Cedar Fair by 94.1% in the 2nd 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 in the last quarter. Brookstone Capital Management acquired a new stake in Cedar Fair during the 2nd quarter worth about $215,000. Finally, Thrive Wealth Management LLC acquired a new position in shares of Cedar Fair in the second quarter worth about $252,000. 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.