Cedar Fair (NYSE:FUN) Share Price Passes Above 200-Day Moving Average – Here’s Why

Cedar Fair, L.P. (NYSE:FUN) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $44.33 and traded as high as $44.64. Cedar Fair shares last traded at $44.05, with a volume of 1,015,804 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FUN. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Cedar Fair from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Truist Financial boosted their price objective on shares of Cedar Fair from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Macquarie restated an “outperform” rating and set a $55.00 price objective on shares of Cedar Fair in a report on Thursday, November 7th. 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 report on Friday, October 25th. Finally, Oppenheimer dropped their price objective on shares of Cedar Fair from $67.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.21.

Cedar Fair Stock Down 1.1 %

The firm’s 50 day moving average price is $46.69 and its two-hundred day moving average price is $44.33. The company has a market cap of $4.42 billion, a P/E ratio of -68.83 and a beta of 1.56. 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 (NYSE:FUN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $2.96 by ($1.38). The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Cedar Fair had a net margin of 0.99% and a return on equity of 113.05%. During the same quarter last year, the firm posted $4.21 EPS. Equities research analysts anticipate that Cedar Fair, L.P. will post 0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Cedar Fair

A hedge fund recently raised its stake in Cedar Fair stock. S.A. Mason LLC grew its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 63.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 993 shares of the company’s stock after acquiring an additional 384 shares during the quarter. S.A. Mason LLC’s holdings in Cedar Fair were worth $40,000 at the end of the most recent quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.

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.