Cedar Fair, L.P. (NYSE:FUN) Receives $49.20 Average PT from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN - Get Free Report) have received a consensus rating of "Moderate Buy" from the fifteen research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $49.20.

Several research firms have recently issued reports on FUN. Barclays lifted their price target on Cedar Fair from $41.00 to $43.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Mizuho upped their price target on Cedar Fair from $49.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Wall Street Zen raised shares of Cedar Fair to a "sell" rating in a report on Tuesday, May 20th. Macquarie reaffirmed an "outperform" rating and issued a $55.00 price target on shares of Cedar Fair in a report on Friday, March 7th. Finally, Truist Financial dropped their target price on Cedar Fair from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, April 14th.

Cedar Fair Price Performance

FUN traded up $0.77 during trading on Friday, hitting $34.97. The company's stock had a trading volume of 2,455,925 shares, compared to its average volume of 1,612,312. The business's fifty day simple moving average is $34.79 and its 200 day simple moving average is $41.39. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of -54.64 and a beta of 0.84. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. Cedar Fair has a twelve month low of $28.02 and a twelve month high of $58.70.

Cedar Fair (NYSE:FUN - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($2.20) earnings per share for the quarter, topping analysts' consensus estimates of ($2.29) by $0.09. Cedar Fair had a net margin of 0.99% and a return on equity of 113.05%. The firm had revenue of $202.06 million for the quarter, compared to analyst estimates of $235.51 million. The firm's revenue was up 98.9% compared to the same quarter last year. On average, equities research analysts forecast that Cedar Fair will post 0.83 EPS for the current fiscal year.

Insider Activity at Cedar Fair

In other Cedar Fair news, Director Michelle M. Frymire sold 5,929 shares of Cedar Fair stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $37.89, for a total transaction of $224,649.81. Following the transaction, the director now owns 7,162 shares of the company's stock, valued at $271,368.18. The trade was a 45.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Cedar Fair

An institutional investor recently raised its position in Cedar Fair stock. Peregrine Capital Management LLC boosted its stake in shares of Cedar Fair, L.P. (NYSE:FUN - Free Report) by 7.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,499 shares of the company's stock after purchasing an additional 9,231 shares during the quarter. Peregrine Capital Management LLC owned about 0.13% of Cedar Fair worth $4,691,000 at the end of the most recent quarter. 64.65% of the stock is currently 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.