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

Shares of Cedar Fair, L.P. (NYSE:FUN) have received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $56.07.

FUN has been the topic of several research reports. Citigroup lifted their price target on Cedar Fair from $53.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Guggenheim upped their target price on shares of Cedar Fair from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group dropped their price objective on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. StockNews.com upgraded shares of Cedar Fair from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Friday, October 4th.

Hedge Funds Weigh In On Cedar Fair

A number of institutional investors and hedge funds have recently made changes to their positions in FUN. Torno Capital LLC purchased a new position in shares of Cedar Fair during the 2nd quarter worth $4,413,000. Mutual of America Capital Management LLC bought a new stake in Cedar Fair during the third quarter valued at about $260,000. Ameritas Advisory Services LLC increased its position in Cedar Fair by 31.1% in the second quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock worth $642,000 after buying an additional 2,804 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Cedar Fair by 94.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after buying an additional 1,400 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in shares of Cedar Fair by 4.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after buying an additional 826 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Cedar Fair Trading Down 1.1 %

NYSE:FUN opened at $49.08 on Wednesday. The company has a 50-day moving average price of $45.38 and a 200-day moving average price of $45.36. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of -76.69 and a beta of 1.58. Cedar Fair has a 12 month low of $35.93 and a 12 month high of $58.70.

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.