Cedar Fair (NYSE:FUN) Stock Rating Reaffirmed by The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their neutral rating on shares of Cedar Fair (NYSE:FUNFree Report) in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $63.00 target price on the stock.

Several other equities research analysts have also recently weighed in on the company. Morgan Stanley increased their price objective on Cedar Fair from $55.00 to $65.00 and gave the company an overweight rating in a research report on Monday, July 1st. Mizuho reduced their target price on Cedar Fair from $56.00 to $55.00 and set a buy rating for the company in a research report on Wednesday, May 15th. StockNews.com began coverage on Cedar Fair in a research report on Wednesday. They issued a hold rating for the company. Oppenheimer raised their target price on Cedar Fair from $49.00 to $67.00 and gave the stock an outperform rating in a research report on Tuesday, July 2nd. Finally, Truist Financial began coverage on Cedar Fair in a research report on Tuesday. They issued a buy rating and a $62.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $57.10.

Read Our Latest Research Report on FUN

Cedar Fair Trading Down 3.4 %

FUN opened at $53.52 on Wednesday. Cedar Fair has a 1-year low of $34.04 and a 1-year high of $58.70. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 22.02 and a beta of 1.53. The business has a 50 day moving average of $46.88 and a 200-day moving average of $42.63.

Cedar Fair (NYSE:FUNGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($2.40) by ($0.07). Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. The business had revenue of $101.62 million during the quarter, compared to the consensus estimate of $91.97 million. Equities analysts predict that Cedar Fair will post 3.41 EPS for the current year.

Cedar Fair Dividend Announcement

The firm also recently announced a Variable dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 28th were paid a $1.53 dividend. The ex-dividend date was Friday, June 28th. Cedar Fair’s dividend payout ratio (DPR) is presently 49.38%.

Institutional Trading of Cedar Fair

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its stake 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 buying an additional 562 shares in the last quarter. CWM LLC increased its position in Cedar Fair by 932.0% in the second quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after purchasing an additional 1,864 shares during the period. Sound Income Strategies LLC increased its position in Cedar Fair by 44.4% in the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after purchasing an additional 852 shares during the period. PNC Financial Services Group Inc. increased its position in Cedar Fair by 10.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after purchasing an additional 300 shares during the period. Finally, Stock Yards Bank & Trust Co. acquired a new stake in Cedar Fair in the first quarter worth about $257,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

About Cedar Fair

(Get Free Report)

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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Analyst Recommendations for Cedar Fair (NYSE:FUN)

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