Cedar Fair, L.P. (NYSE:FUN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $56.07.

A number of brokerages have recently weighed in on FUN. The Goldman Sachs Group dropped their target price on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Oppenheimer dropped their price objective on shares of Cedar Fair from $67.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Truist Financial decreased their target price on shares of Cedar Fair from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Guggenheim upped their price target 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. Finally, Citigroup increased their price objective on Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, December 2nd.

Cedar Fair Stock Performance

Shares of Cedar Fair stock opened at $49.07 on Wednesday. Cedar Fair has a 12 month low of $35.93 and a 12 month high of $58.70. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95. The stock has a market cap of $4.92 billion, a PE ratio of -76.67 and a beta of 1.58. The business has a fifty day simple moving average of $44.81 and a 200-day simple moving average of $45.27.

Institutional Trading of Cedar Fair

Institutional investors and hedge funds have recently modified their holdings of the company. Mutual of America Capital Management LLC acquired a new stake in Cedar Fair during the third quarter valued at approximately $260,000. S.A. Mason LLC boosted its stake in Cedar Fair by 63.1% in the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after buying an additional 384 shares in the last quarter. Torno Capital LLC bought a new stake in Cedar Fair in the second quarter valued at $4,413,000. Benjamin F. Edwards & Company Inc. raised its stake in Cedar Fair by 94.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after acquiring an additional 1,400 shares in 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 worth $1,022,000 after acquiring an additional 826 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors.

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.