Deutsche Bank Aktiengesellschaft Trims Cedar Fair (NYSE:FUN) Target Price to $58.00

Cedar Fair (NYSE:FUN) had its target price decreased by Deutsche Bank Aktiengesellschaft from $65.00 to $58.00 in a report issued on Friday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other research firms also recently issued reports on FUN. B. Riley cut their price target on Cedar Fair from $77.00 to $65.00 and set a buy rating for the company in a research note on Friday, August 9th. Mizuho cut their target price on shares of Cedar Fair from $55.00 to $52.00 and set an outperform rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group decreased their price target on shares of Cedar Fair from $63.00 to $55.00 and set a neutral rating on the stock in a research report on Monday, August 12th. Stifel Nicolaus cut their price objective on shares of Cedar Fair from $68.00 to $60.00 and set a buy rating for the company in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their price objective on Cedar Fair from $48.00 to $43.00 and set an underweight rating for the company in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $57.92.

Cedar Fair Stock Up 3.4 %

Shares of Cedar Fair stock opened at $38.87 on Friday. Cedar Fair has a twelve month low of $34.04 and a twelve month high of $58.70. The company’s 50 day moving average is $42.46 and its 200 day moving average is $44.20. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 16.00 and a beta of 1.55.

Cedar Fair (NYSE:FUN) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $525.57 million. Sell-side analysts expect that Cedar Fair will post 2.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Cedar Fair

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its stake in Cedar Fair by 15.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after buying an additional 539,352 shares during the last quarter. Torno Capital LLC purchased a new position in shares of Cedar Fair in the second quarter valued at $4,413,000. HAP Trading LLC bought a new stake in Cedar Fair in the first quarter worth $1,329,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in Cedar Fair by 121.9% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 24,268 shares of the company’s stock worth $1,017,000 after purchasing an additional 13,332 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Cedar Fair by 4.6% during the second quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after purchasing an additional 826 shares in the last quarter. Hedge funds and other 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.