Brokerages Set Cedar Fair, L.P. (NYSE:FUN) Price Target at $56.07

Shares of Cedar Fair, L.P. (NYSE:FUN) have earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, Marketbeat.com reports. One 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 1 year price target among brokers that have covered the stock in the last year is $56.07.

A number of research firms have weighed in on FUN. Macquarie reiterated an “outperform” rating and set a $55.00 price objective on shares of Cedar Fair in a research report on Thursday, November 7th. StockNews.com upgraded shares of Cedar Fair from a “sell” rating to a “hold” rating in a report on Thursday. Truist Financial reduced their price objective on shares of Cedar Fair from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Oppenheimer dropped their target price on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group reduced their price target on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, October 25th.

Cedar Fair Stock Performance

NYSE FUN opened at $49.08 on Wednesday. The business’s 50 day moving average price is $45.38 and its 200-day moving average price is $45.37. Cedar Fair has a fifty-two week low of $35.93 and a fifty-two week high of $58.70. The company has a market cap of $4.92 billion, a P/E ratio of -76.69 and a beta of 1.58. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.32 and a current ratio of 0.40.

Institutional Trading of Cedar Fair

A number of hedge funds have recently added to or reduced their stakes in the business. S.A. Mason LLC increased its position in Cedar Fair by 63.1% during the 3rd 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. Benjamin F. Edwards & Company Inc. boosted its stake 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 in the last quarter. Mutual of America Capital Management LLC purchased a new position in Cedar Fair during the third quarter valued at approximately $260,000. Ameritas Advisory Services LLC increased its holdings in Cedar Fair by 31.1% during the second quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock valued at $642,000 after buying an additional 2,804 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in Cedar Fair by 4.6% in the second 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 in the last quarter. 64.65% of the stock is owned by hedge funds and other 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.