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

Cedar Fair (NYSE:FUN) had its target price reduced 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.

A number of other brokerages have also weighed in on FUN. The Goldman Sachs Group decreased their target price on Cedar Fair from $63.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their target price on Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Citigroup decreased their target price on Cedar Fair from $61.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Oppenheimer decreased their target price on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Finally, Macquarie decreased their target price on Cedar Fair from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.42.

Cedar Fair Price Performance

FUN opened at $39.95 on Monday. The stock has a 50-day moving average price of $41.03 and a 200-day moving average price of $43.94. The firm has a market cap of $2.05 billion, a PE ratio of 16.44 and a beta of 1.55. Cedar Fair has a 1 year low of $34.04 and a 1 year high of $58.70.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.02. The firm had revenue of $571.62 million during the quarter, compared to analyst estimates of $525.57 million. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. As a group, sell-side analysts anticipate that Cedar Fair will post 2.08 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FUN. PNC Financial Services Group Inc. grew its stake in shares of Cedar Fair by 10.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after acquiring an additional 300 shares during the period. Stock Yards Bank & Trust Co. bought a new position in shares of Cedar Fair during the 1st quarter valued at approximately $257,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of Cedar Fair by 121.9% during 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 period. HAP Trading LLC bought a new position in shares of Cedar Fair during the 1st quarter valued at approximately $1,329,000. Finally, Cetera Advisors LLC grew its stake 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 valued at $288,000 after acquiring an additional 675 shares during the period. 64.65% of the stock is currently owned by 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.