Cedar Fair (NYSE:FUN) Share Price Passes Above 200-Day Moving Average – Here’s Why

Cedar Fair, L.P. (NYSE:FUN) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $44.33 and traded as high as $44.64. Cedar Fair shares last traded at $44.05, with a volume of 1,015,804 shares.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FUN. Oppenheimer reduced their price target on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Jefferies Financial Group began coverage on Cedar Fair in a report on Monday, December 9th. They issued a “buy” rating and a $59.00 price target for the company. The Goldman Sachs Group reduced their price target on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, October 25th. StockNews.com raised Cedar Fair from a “sell” rating to a “hold” rating in a report on Thursday, December 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.21.

Cedar Fair Stock Down 1.1 %

The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32. The stock’s fifty day simple moving average is $46.69 and its 200-day simple moving average is $44.33. The stock has a market cap of $4.42 billion, a P/E ratio of -68.83 and a beta of 1.56.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $2.96 by ($1.38). Cedar Fair had a net margin of 0.99% and a return on equity of 113.05%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business earned $4.21 EPS. On average, research analysts anticipate that Cedar Fair, L.P. will post 0.83 earnings per share for the current year.

Institutional Investors Weigh In On Cedar Fair

An institutional investor recently bought a new position in Cedar Fair stock. Mutual of America Capital Management LLC acquired a new stake in Cedar Fair, L.P. (NYSE:FUN) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 6,459 shares of the company’s stock, valued at approximately $260,000. 64.65% of the stock is currently owned by institutional investors.

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.