Cedar Fair (NYSE:FUN) Rating Increased to Sell at StockNews.com

Cedar Fair (NYSE:FUN - Get Free Report) was upgraded by StockNews.com to a "sell" rating in a research note issued to investors on Tuesday.

A number of other analysts have also commented on the company. Mizuho boosted their target price on Cedar Fair from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Truist Financial decreased their price objective on Cedar Fair from $52.00 to $45.00 and set a "buy" rating for the company in a report on Monday, April 14th. Macquarie reiterated an "outperform" rating and issued a $55.00 target price on shares of Cedar Fair in a report on Friday, March 7th. JPMorgan Chase & Co. reduced their price target on shares of Cedar Fair from $46.00 to $28.00 and set an "underweight" rating for the company in a research report on Thursday, April 17th. Finally, Morgan Stanley lowered 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. Two equities research 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $49.20.

Cedar Fair Price Performance

Cedar Fair stock opened at $37.05 on Tuesday. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -57.89 and a beta of 0.84. Cedar Fair has a 52-week low of $28.02 and a 52-week high of $58.70. The stock's 50 day moving average price is $35.02 and its two-hundred day moving average price is $41.71. 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 released its earnings results on Thursday, May 8th. The company reported ($2.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.29) by $0.09. The company had revenue of $202.06 million for 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 company's revenue was up 98.9% compared to the same quarter last year. On average, equities analysts predict that Cedar Fair will post 0.83 earnings per share for the current year.

Insider Activity

In other Cedar Fair news, Director Michelle M. Frymire sold 5,929 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $37.89, for a total value of $224,649.81. Following the transaction, the director now owns 7,162 shares of the company's stock, valued at approximately $271,368.18. The trade was a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cedar Fair

A hedge fund recently raised its stake 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 the company in its most recent disclosure with the SEC. The firm owned 131,499 shares of the company's stock after buying an additional 9,231 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.13% of Cedar Fair worth $4,691,000 as of its most recent SEC filing. 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.

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