Cedar Fair, L.P. (NYSE:FUN) Given Average Recommendation of “Moderate Buy” by Brokerages

Cedar Fair, L.P. (NYSE:FUN) has earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $55.92.

Several brokerages recently weighed in on FUN. Deutsche Bank Aktiengesellschaft decreased their target price 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. Truist Financial decreased their target price on Cedar Fair from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their target price on Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Oppenheimer decreased their target price on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, Guggenheim increased their price target on Cedar Fair from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th.

Institutional Investors Weigh In On Cedar Fair

A number of institutional investors have recently bought and sold shares of the business. Mutual of America Capital Management LLC acquired a new stake in Cedar Fair during the 3rd quarter worth about $260,000. S.A. Mason LLC boosted its position in Cedar Fair by 63.1% during the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company’s stock worth $40,000 after acquiring an additional 384 shares during the period. Torno Capital LLC acquired a new stake in Cedar Fair during the 2nd quarter worth about $4,413,000. Benjamin F. Edwards & Company Inc. boosted its position in Cedar Fair by 94.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after acquiring an additional 1,400 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in Cedar Fair by 4.6% during the 2nd 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. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Cedar Fair Trading Down 0.2 %

Shares of FUN stock opened at $46.31 on Friday. The stock has a 50-day simple moving average of $41.84 and a 200 day simple moving average of $44.78. Cedar Fair has a fifty-two week low of $35.93 and a fifty-two week high of $58.70. The stock has a market capitalization of $4.64 billion, a P/E ratio of -72.36 and a beta of 1.55. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95.

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.