Analysts Set Cedar Fair, L.P. (NYSE:FUN) PT at $49.20

Cedar Fair, L.P. (NYSE:FUN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fifteen brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $49.20.

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Cedar Fair from $46.00 to $28.00 and set an "underweight" rating for the company in a report on Thursday, April 17th. Guggenheim reduced their price objective on shares of Cedar Fair from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. UBS Group initiated coverage on shares of Cedar Fair in a research note on Wednesday, April 9th. They set a "buy" rating and a $49.00 price target on the stock. Truist Financial lowered their price objective on shares of Cedar Fair from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley decreased their price objective on shares of Cedar Fair from $58.00 to $47.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th.

Insiders Place Their Bets

In other news, Director Michelle M. Frymire sold 5,929 shares of the company's 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 sale, the director now directly owns 7,162 shares in the company, valued at $271,368.18. This represents a 45.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Cedar Fair

A hedge fund recently raised its stake in Cedar Fair stock. Peregrine Capital Management LLC boosted its holdings in shares of Cedar Fair, L.P. (NYSE:FUN - Free Report) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and 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 owned by institutional investors and hedge funds.

Cedar Fair Price Performance

FUN stock traded down $0.06 during trading on Friday, reaching $34.47. The company's stock had a trading volume of 93,173 shares, compared to its average volume of 1,706,229. Cedar Fair has a 1 year low of $28.02 and a 1 year high of $58.70. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95. The company has a market capitalization of $3.48 billion, a P/E ratio of -53.87 and a beta of 0.84. The company's fifty day moving average is $34.69 and its 200-day moving average is $41.29.

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

Cedar Fair Company Profile

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.