Cedar Fair (NYSE:FUN) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Cedar Fair (NYSE:FUNGet Rating) from a hold rating to a buy rating in a research report released on Friday morning.

FUN has been the topic of several other research reports. B. Riley dropped their target price on shares of Cedar Fair from $80.00 to $68.00 and set a buy rating on the stock in a report on Tuesday, June 21st. Rosenblatt Securities dropped their price target on shares of Cedar Fair from $51.00 to $40.00 and set a neutral rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Cedar Fair from $75.00 to $63.00 in a research note on Thursday. Truist Financial dropped their price target on shares of Cedar Fair from $67.00 to $58.00 in a research note on Thursday. Finally, TheStreet upgraded shares of Cedar Fair from a d+ rating to a c rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $58.88.

Cedar Fair Stock Performance

Shares of NYSE FUN opened at $42.27 on Friday. Cedar Fair has a fifty-two week low of $37.78 and a fifty-two week high of $62.56. The company has a 50 day simple moving average of $43.20 and a two-hundred day simple moving average of $49.68. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 29.15 and a beta of 1.70.

Cedar Fair (NYSE:FUNGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported ($1.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.96) by $0.40. Cedar Fair had a net margin of 4.85% and a negative return on equity of 12.62%. The company had revenue of $99.00 million for the quarter, compared to analysts’ expectations of $76.28 million. During the same quarter last year, the company posted ($1.95) earnings per share. The firm’s quarterly revenue was up 920.6% on a year-over-year basis. On average, analysts forecast that Cedar Fair will post 4.09 earnings per share for the current fiscal year.

Cedar Fair Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.84%.

Institutional Trading of Cedar Fair

Several institutional investors and hedge funds have recently modified their holdings of the company. Tyler Stone Wealth Management bought a new stake in Cedar Fair in the 4th quarter valued at $33,000. Trustcore Financial Services LLC bought a new stake in Cedar Fair in the 1st quarter valued at $39,000. PenderFund Capital Management Ltd. bought a new stake in Cedar Fair in the 1st quarter valued at $41,000. Valley National Advisers Inc. bought a new stake in Cedar Fair in the 1st quarter valued at $42,000. Finally, CWM LLC bought a new stake in Cedar Fair in the 4th quarter valued at $58,000. 62.78% of the stock is currently owned by institutional investors.

Cedar Fair Company Profile

(Get Rating)

Cedar Fair, L.P. owns and operates amusement and water parks, and complementary resort facilities in the United States and Canada. 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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Analyst Recommendations for Cedar Fair (NYSE:FUN)

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