Cedar Fair (NYSE:FUN) Price Target Increased to $59.00 by Analysts at B. Riley

Cedar Fair (NYSE:FUN) had its target price hoisted by B. Riley from $52.00 to $59.00 in a report issued on Wednesday morning, Benzinga reports. B. Riley currently has a buy rating on the stock.

Several other research firms have also recently issued reports on FUN. StockNews.com assumed coverage on Cedar Fair in a research note on Saturday, June 8th. They set a buy rating for the company. KeyCorp raised their target price on Cedar Fair from $49.00 to $52.00 and gave the stock an overweight rating in a research note on Friday, February 16th. Truist Financial raised their target price on Cedar Fair from $45.00 to $50.00 and gave the stock a buy rating in a research note on Friday, May 10th. Mizuho dropped their price objective on Cedar Fair from $56.00 to $55.00 and set a buy rating for the company in a research note on Wednesday, May 15th. Finally, Stifel Nicolaus lifted their price objective on Cedar Fair from $49.00 to $52.00 and gave the company a buy rating in a research note on Friday, February 16th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cedar Fair currently has a consensus rating of Buy and a consensus price target of $51.10.

Cedar Fair Stock Performance

NYSE:FUN opened at $46.73 on Wednesday. Cedar Fair has a one year low of $34.04 and a one year high of $47.60. The stock has a market cap of $2.40 billion, a PE ratio of 19.23 and a beta of 1.45. The stock has a 50 day moving average price of $41.67 and a 200 day moving average price of $40.77.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, May 9th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by ($0.07). The business had revenue of $101.62 million for the quarter, compared to analyst estimates of $91.97 million. Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. As a group, analysts predict that Cedar Fair will post 3.47 earnings per share for the current fiscal year.

Cedar Fair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.20 dividend on an annualized basis and a yield of 2.57%. Cedar Fair’s dividend payout ratio (DPR) is presently 49.38%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FUN. Sargent Investment Group LLC boosted its holdings in Cedar Fair by 8.9% in the third quarter. Sargent Investment Group LLC now owns 12,835 shares of the company’s stock valued at $475,000 after purchasing an additional 1,045 shares during the period. Nomura Holdings Inc. purchased a new position in Cedar Fair in the third quarter valued at $25,215,000. JPMorgan Chase & Co. boosted its holdings in Cedar Fair by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock valued at $124,718,000 after purchasing an additional 1,130,439 shares during the period. Impala Asset Management LLC boosted its holdings in Cedar Fair by 21.9% in the third quarter. Impala Asset Management LLC now owns 379,040 shares of the company’s stock valued at $14,024,000 after purchasing an additional 68,150 shares during the period. Finally, Aurora Investment Counsel purchased a new stake in Cedar Fair during the 3rd quarter worth about $2,142,000. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

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.