Cedar Fair (NYSE:FUN) Price Target Raised to $55.00 at Guggenheim

Cedar Fair (NYSE:FUN) had its price target hoisted by Guggenheim from $52.00 to $55.00 in a research report released on Tuesday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

FUN has been the subject of several other reports. B. Riley decreased their price target on shares of Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Oppenheimer decreased their price target 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. Citigroup dropped their price objective on Cedar Fair from $61.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Macquarie reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Cedar Fair in a report on Thursday, November 7th. Finally, Stifel Nicolaus reduced their price objective on shares of Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.92.

Cedar Fair Price Performance

Shares of NYSE:FUN opened at $45.40 on Tuesday. The firm has a market cap of $4.55 billion, a PE ratio of -70.98 and a beta of 1.55. The firm’s fifty day moving average is $41.37 and its 200-day moving average is $44.64. 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 has a 52 week low of $35.93 and a 52 week high of $58.70.

Institutional Investors Weigh In On Cedar Fair

Several institutional investors have recently bought and sold shares of FUN. Torno Capital LLC purchased a new position in shares of Cedar Fair in the second quarter valued at about $4,413,000. Commonwealth Equity Services LLC grew its holdings in shares of 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 acquiring an additional 826 shares during the period. Aurora Investment Counsel grew its position in Cedar Fair by 1.7% during the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock valued at $632,000 after buying an additional 253 shares during the period. Ameritas Advisory Services LLC lifted its position 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 purchasing an additional 2,804 shares in the last quarter. Finally, HM Payson & Co. bought a new stake in Cedar Fair during the 1st quarter worth approximately $332,000. 64.65% of the stock is currently 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.