Cedar Fair (NYSE:FUN) Price Target Raised to $46.00

Cedar Fair (NYSE:FUN) had its price target hoisted by JPMorgan Chase & Co. from $43.00 to $46.00 in a report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Other equities research analysts also recently issued reports about the company. Citigroup dropped their target price on Cedar Fair from $61.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Mizuho lowered their price target on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, August 9th. B. Riley dropped their price target on shares of Cedar Fair from $77.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Guggenheim assumed coverage on shares of Cedar Fair in a research report on Tuesday, October 29th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Stifel Nicolaus cut their price target on Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Cedar Fair has an average rating of “Moderate Buy” and an average price target of $55.69.

Cedar Fair Stock Performance

FUN traded down $0.19 on Thursday, reaching $45.40. 1,496,992 shares of the company’s stock were exchanged, compared to its average volume of 980,551. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 18.41 and a beta of 1.55. Cedar Fair has a twelve month low of $35.93 and a twelve month high of $58.70. The company’s 50 day moving average is $40.61 and its 200-day moving average is $44.12.

Cedar Fair (NYSE:FUN) last issued its earnings results on Thursday, August 8th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. The business had revenue of $571.62 million for the quarter, compared to the consensus estimate of $525.57 million. Sell-side analysts forecast that Cedar Fair will post 2.14 EPS for the current year.

Institutional Investors Weigh In On Cedar Fair

Several institutional investors and hedge funds have recently made changes to their positions in the company. Torno Capital LLC bought a new position in Cedar Fair in the second quarter worth about $4,413,000. HAP Trading LLC acquired a new position in Cedar Fair during the 1st quarter valued at approximately $1,329,000. Commonwealth Equity Services LLC grew its stake in Cedar Fair by 4.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock worth $1,022,000 after buying an additional 826 shares during the last quarter. Aurora Investment Counsel increased its position in Cedar Fair by 1.7% in the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock worth $632,000 after buying an additional 253 shares during the period. Finally, Ameritas Advisory Services LLC lifted its stake in Cedar Fair by 31.1% in the second quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock valued at $642,000 after buying an additional 2,804 shares during the last quarter. 64.65% of the stock is owned by institutional investors and hedge funds.

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.