Analysts at Macquarie have started reporting on shares of Cedar Fair (NYSE:FUN – Get Free Report) in a report released Thursday, Marketbeat.com reported. The brokerage set an “outperform” rating and a $64.00 price target on the stock. Macquarie’s price target would indicate a potential upside of 27.26% from the stock’s previous close.

Several other research firms have also weighed in on FUN recently. StockNews.com initiated coverage on shares of Cedar Fair in a research note on Thursday. They issued a “hold” rating for the company. Truist Financial initiated coverage on Cedar Fair in a research report on Tuesday, July 9th. They gave the company a “buy” rating and a $62.00 price target. Mizuho lowered their price target on Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Oppenheimer increased their price target 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, B. Riley increased their price target on shares of Cedar Fair from $52.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and nine have rated it with a buy rating. Based on data from MarketBeat, the firm has an average rating of “Moderate Buy” and an average price target of $60.10.

Get our latest research report on FUN

Cedar Fair Trading down 0.9%

FUN opened at $50.29 on Thursday. The company has a 50-day moving average of $48.41 and a 200-day moving average of $43.23. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 20.70 and a beta of 1.53. Cedar Fair has a 1-year low of $34.04 and a 1-year high of $58.70.

Cedar Fair (NYSE:FUN – Get Free Report) last released its earnings results on Thursday, May 9. The company reported ($2.47) EPS 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 company had revenue of $101.62 million for the quarter, compared to analyst estimates of $91.97 million. Equity analysts predict that Cedar Fair will post 3.68 EPS for the current year.

Hedge Funds Weigh In on Cedar Fair

Several institutional investors have recently added to or reduced their stakes in the company. UBS Group AG increased its stake in Cedar Fair by 313.7% in the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock worth $121,274,000 after purchasing an additional 2,310,565 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Cedar Fair by 15.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock worth $159,553,000 after purchasing an additional 539,352 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new position in Cedar Fair in the fourth quarter worth $1,834,000. HAP Trading LLC acquired a new position in Cedar Fair in the first quarter worth $1,329,000. Finally, Jump Financial LLC bought a new stake in shares of Cedar Fair in the fourth quarter worth $617,000. 64.65% of the shares are held by institutional investors.

About Cedar Fair

(Get free report)

Cedar Fair, LP owns and operates amusement parks and water parks, as well as ancillary resort facilities. The 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 located 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 located near Minneapolis/St.

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