Citigroup Forecasts Strong Price Appreciation for Cedar Fair (NYSE:FUN) Stock

Cedar Fair (NYSE:FUN) had its target price upped by research analysts at Citigroup from $53.00 to $57.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 20.74% from the company’s current price.

Several other equities research analysts have also issued reports 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. Mizuho reduced their price target on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. 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. Finally, Stifel Nicolaus reduced their price target on Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.85.

Cedar Fair Stock Down 2.4 %

Shares of FUN opened at $47.21 on Monday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32. Cedar Fair has a one year low of $35.93 and a one year high of $58.70. The stock’s fifty day moving average is $42.08 and its 200-day moving average is $44.82.

Hedge Funds Weigh In On Cedar Fair

Several hedge funds have recently added to or reduced their stakes in FUN. Mutual of America Capital Management LLC acquired a new stake in shares of Cedar Fair during the third quarter worth about $260,000. S.A. Mason LLC raised its position in shares of Cedar Fair by 63.1% during the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares during the period. Torno Capital LLC acquired a new stake in shares of Cedar Fair during the second quarter worth about $4,413,000. Benjamin F. Edwards & Company Inc. raised its position 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 worth $157,000 after purchasing an additional 1,400 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in shares of 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 purchasing an additional 826 shares during the period. Institutional investors and hedge funds own 64.65% of the company’s stock.

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.