Truist Financial Trims Cedar Fair (NYSE:FUN) Target Price to $54.00

Cedar Fair (NYSE:FUN) had its price target cut by Truist Financial from $60.00 to $54.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the stock.

FUN has been the topic of several other reports. Morgan Stanley upped their price objective on Cedar Fair from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, July 1st. The Goldman Sachs Group decreased their price objective on Cedar Fair from $63.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Stifel Nicolaus decreased their price objective on Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Citigroup decreased their price objective on Cedar Fair from $61.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Oppenheimer decreased their price objective on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.42.

Cedar Fair Trading Up 1.5 %

NYSE FUN opened at $39.95 on Monday. The stock’s 50 day moving average is $41.03 and its 200 day moving average is $43.94. Cedar Fair has a 12 month low of $34.04 and a 12 month high of $58.70. The stock has a market cap of $2.05 billion, a PE ratio of 16.44 and a beta of 1.55.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $571.62 million for the quarter, compared to analysts’ expectations of $525.57 million. On average, analysts forecast that Cedar Fair will post 2.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Cedar Fair

Several hedge funds have recently bought and sold shares of FUN. Torno Capital LLC bought a new position in Cedar Fair in the 2nd quarter valued at $4,413,000. HAP Trading LLC bought a new position in Cedar Fair in the 1st quarter valued at $1,329,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in Cedar Fair by 121.9% in the 1st 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 acquiring an additional 13,332 shares during the last quarter. HM Payson & Co. bought a new position in Cedar Fair in the 1st quarter valued at $332,000. Finally, Stock Yards Bank & Trust Co. bought a new position in Cedar Fair in the 1st quarter valued at $257,000. 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.