Cedar Fair (NYSE:FUN) Raised 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 research note issued to investors on Friday.

A number of other brokerages have also commented on FUN. 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. Stifel Nicolaus upped their price target on Cedar Fair from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Barclays upped their price target on Cedar Fair from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Truist Financial cut their price target on Cedar Fair from $52.00 to $45.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Jefferies Financial Group cut their price target on Cedar Fair from $58.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $49.20.

Cedar Fair Stock Performance

Cedar Fair stock traded up $0.36 during trading hours on Friday, reaching $33.21. 1,850,313 shares of the company were exchanged, compared to its average volume of 1,672,302. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -51.90 and a beta of 0.79. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. The stock has a 50-day moving average of $34.20 and a 200 day moving average of $40.68. Cedar Fair has a 12 month low of $28.02 and a 12 month high of $58.70.

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

Insiders Place Their Bets

In other Cedar Fair news, Director Michelle M. Frymire sold 5,929 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $37.89, for a total transaction of $224,649.81. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

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 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,499 shares of the company's stock after acquiring an additional 9,231 shares during the quarter. Peregrine Capital Management LLC owned 0.13% of Cedar Fair worth $4,691,000 as of its most recent SEC filing. 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.

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