Cedar Fair (NYSE:FUN) Price Target Cut to $45.00 by Analysts at Truist Financial

Cedar Fair (NYSE:FUN - Free Report) had its target price lowered by Truist Financial from $48.00 to $45.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on FUN. B. Riley reaffirmed a buy rating and issued a $52.00 target price (up from $50.00) on shares of Cedar Fair in a research note on Friday, February 16th. StockNews.com began coverage on shares of Cedar Fair in a research note on Monday. They issued a buy rating on the stock. KeyCorp increased their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the company an overweight rating in a research report on Friday, February 16th. Oppenheimer began coverage on shares of Cedar Fair in a research report on Thursday, February 8th. They set an outperform rating and a $49.00 price target on the stock. Finally, Mizuho began coverage on shares of Cedar Fair in a research report on Tuesday, March 26th. They set a buy rating and a $56.00 price target on the stock. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of Buy and an average target price of $50.00.

Cedar Fair Trading Up 4.0 %

Shares of Cedar Fair stock traded up $1.52 on Friday, reaching $39.38. The stock had a trading volume of 143,333 shares, compared to its average volume of 206,770. Cedar Fair has a 1 year low of $34.04 and a 1 year high of $45.39. The company has a market cap of $2.02 billion, a P/E ratio of 15.71 and a beta of 1.42. The business's 50 day moving average is $40.68 and its two-hundred day moving average is $39.44.

Cedar Fair (NYSE:FUN - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08). The firm had revenue of $371.12 million during the quarter, compared to analysts' expectations of $365.13 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. On average, equities analysts anticipate that Cedar Fair will post 3.27 EPS for the current fiscal year.

Cedar Fair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Tuesday, March 5th. Cedar Fair's dividend payout ratio (DPR) is presently 48.98%.

Institutional Investors Weigh In On Cedar Fair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FUN. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its holdings in shares of Cedar Fair by 121.9% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 24,268 shares of the company's stock valued at $1,017,000 after purchasing an additional 13,332 shares in the last quarter. Stock Yards Bank & Trust Co. bought a new stake in shares of Cedar Fair in the first quarter valued at about $257,000. PNC Financial Services Group Inc. raised its holdings in shares of Cedar Fair by 10.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company's stock valued at $131,000 after acquiring an additional 300 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Cedar Fair by 15.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company's stock valued at $159,553,000 after acquiring an additional 539,352 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Cedar Fair by 201.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company's stock valued at $33,000 after acquiring an additional 562 shares in the last quarter. 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.