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

Cedar Fair (NYSE:FUN - Get Free Report) was upgraded by investment analysts at Wall Street Zen to a "sell" rating in a report issued on Tuesday.

A number of other research firms also recently weighed in on FUN. Barclays began coverage on Cedar Fair in a research note on Friday, March 14th. They set an "overweight" rating and a $41.00 price target for the company. Mizuho raised their price objective on shares of Cedar Fair from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group reduced their target price on shares of Cedar Fair from $45.00 to $39.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. dropped their price target on shares of 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, Truist Financial cut their price target on shares of Cedar Fair from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Cedar Fair presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.20.

Cedar Fair Stock Down 1.3%

NYSE FUN traded down $0.45 during trading on Tuesday, reaching $34.22. 1,854,535 shares of the company's stock were exchanged, compared to its average volume of 1,608,924. The company's fifty day simple moving average is $34.85 and its 200-day simple moving average is $41.46. 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 firm has a market capitalization of $3.46 billion, a PE ratio of -53.47 and a beta of 0.84. Cedar Fair has a fifty-two week low of $28.02 and a fifty-two week high of $58.70.

Cedar Fair (NYSE:FUN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($2.20) EPS 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 business had revenue of $202.06 million for the quarter, compared to analysts' expectations of $235.51 million. The firm's quarterly revenue was up 98.9% on a year-over-year basis. Sell-side analysts predict that Cedar Fair will post 0.83 EPS for the current year.

Insider Transactions at Cedar Fair

In related news, Director Michelle M. Frymire sold 5,929 shares of the stock in a transaction that occurred 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 sale, the director now owns 7,162 shares in the company, valued at $271,368.18. This represents a 45.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cedar Fair stock. Peregrine Capital Management LLC lifted 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 Form 13F filing with the Securities and Exchange Commission. The fund owned 131,499 shares of the company's stock after acquiring an additional 9,231 shares during the period. Peregrine Capital Management LLC owned approximately 0.13% of Cedar Fair worth $4,691,000 at the end of the most recent reporting period. 64.65% of the stock is currently owned by institutional investors and hedge funds.

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.