JPMorgan Chase & Co. Issues Positive Forecast for Cedar Fair (NYSE:FUN) Stock Price

Cedar Fair (NYSE:FUN) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $43.00 to $46.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 1.39% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. B. Riley lowered their price target on shares of Cedar Fair from $77.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus dropped their price objective on shares of Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group reduced their price target on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Truist Financial cut their price objective on shares of Cedar Fair from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.69.

Cedar Fair Trading Down 0.6 %

FUN stock traded down $0.27 during trading on Thursday, reaching $45.37. The stock had a trading volume of 1,044,918 shares, compared to its average volume of 971,307. The company has a market capitalization of $4.55 billion, a P/E ratio of 18.52 and a beta of 1.55. The firm has a fifty day moving average price of $40.58 and a 200 day moving average price of $44.11. Cedar Fair has a 1-year low of $35.93 and a 1-year high of $58.70.

Cedar Fair (NYSE:FUN) last announced its earnings results on Thursday, August 8th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.02. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. The firm had revenue of $571.62 million during the quarter, compared to the consensus estimate of $525.57 million. Sell-side analysts predict that Cedar Fair will post 2.14 EPS for the current year.

Hedge Funds Weigh In On Cedar Fair

Institutional investors have recently bought and sold shares of the business. Aurora Investment Counsel boosted its holdings in Cedar Fair by 1.7% during the 1st quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock worth $632,000 after acquiring an additional 253 shares during the last quarter. S.A. Mason LLC boosted its holdings in Cedar Fair by 63.1% in the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after acquiring an additional 384 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of Cedar Fair by 10.9% during the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after acquiring an additional 675 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Cedar Fair by 4.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock worth $1,022,000 after buying an additional 826 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Cedar Fair by 94.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.

About Cedar Fair

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.