Cedar Fair, L.P. (NYSE:FUN) Given Average Rating of “Moderate Buy” by Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $55.92.

Several research firms have recently commented on FUN. Mizuho reduced their target price on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on Cedar Fair from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Oppenheimer reduced their price objective on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Citigroup reduced their price objective on Cedar Fair from $61.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Truist Financial reduced their price objective on Cedar Fair from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 21st.

Cedar Fair Stock Performance

Cedar Fair stock opened at $46.31 on Friday. The stock has a market cap of $4.64 billion, a P/E ratio of -72.36 and a beta of 1.55. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. The stock has a 50 day moving average of $41.84 and a 200-day moving average of $44.78. Cedar Fair has a 52 week low of $35.93 and a 52 week high of $58.70.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. S.A. Mason LLC increased its holdings in shares of Cedar Fair by 63.1% during the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares during the period. CWM LLC increased its holdings in shares of Cedar Fair by 932.0% during the second quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after purchasing an additional 1,864 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Cedar Fair by 94.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after purchasing an additional 1,400 shares during the period. Brookstone Capital Management acquired a new position in shares of Cedar Fair during the second quarter valued at $215,000. Finally, Thrive Wealth Management LLC acquired a new position in shares of Cedar Fair during the second quarter valued at $252,000. 64.65% of the stock is owned by institutional investors and hedge funds.

About Cedar Fair

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.