Cedar Fair (NYSE:FUN) Hits New 12-Month Low – Here’s What Happened

Cedar Fair, L.P. (NYSE:FUN) reached a new 52-week low during trading on Thursday . The company traded as low as $32.01 and last traded at $32.30, with a volume of 821762 shares trading hands. The stock had previously closed at $37.37.

Analyst Ratings Changes

Several research firms recently issued reports on FUN. Macquarie reissued an “outperform” rating and issued a $55.00 target price on shares of Cedar Fair in a research report on Friday, March 7th. Barclays started coverage on shares of Cedar Fair in a research note on Friday, March 14th. They set an “overweight” rating and a $41.00 price objective for the company. Mizuho cut their target price on Cedar Fair from $54.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Guggenheim lowered their price target on Cedar Fair from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, StockNews.com downgraded Cedar Fair from a “hold” rating to a “sell” rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.57.

Cedar Fair Stock Down 14.4 %

The firm has a fifty day simple moving average of $41.36 and a 200-day simple moving average of $43.10. The company has a market capitalization of $3.21 billion, a PE ratio of -49.98 and a beta of 1.54. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.32 and a current ratio of 0.40.

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.