Cedar Fair (NYSE:FUN) Upgraded to "Hold" at Wall Street Zen

Cedar Fair (NYSE:FUN - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

Several other research analysts also recently weighed in on FUN. JPMorgan Chase & Co. cut their price target on Cedar Fair from $46.00 to $28.00 and set an "underweight" rating for the company in a report on Thursday, April 17th. Guggenheim cut their price target on Cedar Fair from $55.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Macquarie reiterated an "outperform" rating and issued a $55.00 price target on shares of Cedar Fair in a report on Friday, March 7th. Barclays boosted their price target on Cedar Fair from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Finally, UBS Group assumed coverage on shares of Cedar Fair in a research note on Wednesday, April 9th. They set a "buy" rating and a $49.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Cedar Fair currently has an average rating of "Moderate Buy" and a consensus target price of $49.20.

Cedar Fair Price Performance

FUN stock traded down $1.44 during trading on Friday, hitting $31.82. The stock had a trading volume of 2,622,559 shares, compared to its average volume of 1,682,423. The company's 50 day moving average price is $34.09 and its two-hundred day moving average price is $40.52. Cedar Fair has a 1-year low of $28.02 and a 1-year high of $58.70. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -49.71 and a beta of 0.79. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.32 and a current ratio of 0.40.

Cedar Fair (NYSE:FUN - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($2.20) earnings per share for the quarter, beating 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 firm had revenue of $202.06 million during the quarter, compared to the consensus estimate of $235.51 million. The company's revenue was up 98.9% compared to the same quarter last year. On average, sell-side analysts forecast that Cedar Fair will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Michelle M. Frymire sold 5,929 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $37.89, for a total transaction of $224,649.81. Following the completion of the sale, the director now owns 7,162 shares of the company's stock, valued at approximately $271,368.18. This represents a 45.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of Cedar Fair

A hedge fund recently raised its stake 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 its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 hedge funds and other 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.