Cedar Fair (NYSE:FUN) Stock Price Up 5.8% Following Analyst Upgrade

Cedar Fair, L.P. (NYSE:FUN)’s stock price rose 5.8% on Monday after Citigroup raised their price target on the stock from $53.00 to $57.00. Citigroup currently has a buy rating on the stock. Cedar Fair traded as high as $49.06 and last traded at $48.89. Approximately 384,244 shares traded hands during trading, a decline of 61% from the average daily volume of 990,489 shares. The stock had previously closed at $46.19.

Several other research firms have also weighed in on FUN. Truist Financial cut their target price on shares of Cedar Fair from $60.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 21st. The Goldman Sachs Group cut their price target on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Macquarie reissued an “outperform” rating and issued a $55.00 price target on shares of Cedar Fair in a report on Thursday, November 7th. B. Riley cut their price target on shares of Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Oppenheimer cut their price target on shares of Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. S.A. Mason LLC raised its holdings in Cedar Fair by 63.1% in the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after buying an additional 384 shares during the period. CWM LLC increased its stake in Cedar Fair by 932.0% during the second quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after purchasing an additional 1,864 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in 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. Brookstone Capital Management purchased a new stake in Cedar Fair during the second quarter worth about $215,000. Finally, Thrive Wealth Management LLC purchased a new stake in Cedar Fair during the second quarter worth about $252,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Cedar Fair Price Performance

The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32. The company has a market capitalization of $4.84 billion, a PE ratio of -76.08 and a beta of 1.55. The stock’s 50 day simple moving average is $41.94 and its 200-day simple moving average is $44.79.

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.