Morgan Stanley Has Lowered Expectations for Cedar Fair (NYSE:FUN) Stock Price

Cedar Fair (NYSE:FUN - Free Report) had its price objective reduced by Morgan Stanley from $58.00 to $47.00 in a research report report published on Tuesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other analysts have also weighed in on FUN. Barclays initiated coverage on shares of Cedar Fair in a report on Friday, March 14th. They issued an "overweight" rating and a $41.00 price target for the company. Mizuho cut their price target on Cedar Fair from $54.00 to $49.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Guggenheim dropped their price objective on Cedar Fair from $55.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on Cedar Fair from $46.00 to $28.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Finally, UBS Group initiated coverage on Cedar Fair in a research note on Wednesday, April 9th. They set a "buy" rating and a $49.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.20.

Cedar Fair Price Performance

FUN traded up $1.47 during midday trading on Tuesday, reaching $35.91. 3,155,384 shares of the company's stock were exchanged, compared to its average volume of 1,527,043. Cedar Fair has a one year low of $28.02 and a one year high of $58.70. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -56.11 and a beta of 0.84. The business has a 50-day simple moving average of $35.01 and a two-hundred day simple moving average of $41.87. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95.

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

Institutional Trading of Cedar Fair

An institutional investor recently raised its position in Cedar Fair stock. Peregrine Capital Management LLC raised its stake in Cedar Fair, L.P. (NYSE:FUN - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,499 shares of the company's stock after purchasing an additional 9,231 shares during the period. Peregrine Capital Management LLC owned 0.13% of Cedar Fair worth $4,691,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 64.65% of the company's stock.

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.