Cedar Fair (NYSE:FUN) Shares Up 5.8% Following Analyst Upgrade

Cedar Fair, L.P. (NYSE:FUN)’s stock price rose 5.8% on Monday after Citigroup raised their price target on the stock from $53.00 to $57.00. Citigroup currently has a buy rating on the stock. Cedar Fair traded as high as $49.06 and last traded at $48.89. Approximately 384,244 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 990,489 shares. The stock had previously closed at $46.19.

A number of other research firms have also weighed in on FUN. StockNews.com lowered shares of Cedar Fair from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. The Goldman Sachs Group lowered their price objective on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Guggenheim upped their price objective on shares of Cedar Fair from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Mizuho lowered their price objective on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, Truist Financial lowered their price target on shares of Cedar Fair from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.85.

Institutional Trading of Cedar Fair

A number of institutional investors have recently bought and sold shares of the stock. Torno Capital LLC acquired a new stake in Cedar Fair in the 2nd quarter worth approximately $4,413,000. Commonwealth Equity Services LLC raised its position in Cedar Fair by 4.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock worth $1,022,000 after buying an additional 826 shares during the last quarter. Ameritas Advisory Services LLC raised its position in Cedar Fair by 31.1% during the 2nd quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock worth $642,000 after buying an additional 2,804 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Cedar Fair by 26.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,688 shares of the company’s stock worth $418,000 after buying an additional 1,620 shares during the last quarter. Finally, Cetera Advisors LLC raised its position in Cedar Fair by 10.9% during the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after buying an additional 675 shares during the last quarter. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Cedar Fair Stock Up 4.5 %

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 company has a market capitalization of $4.84 billion, a PE ratio of -76.08 and a beta of 1.55. The business’s 50-day simple moving average is $41.94 and its 200-day simple moving average is $44.79.

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.