StockNews.com Upgrades Cedar Fair (NYSE:FUN) to “Hold”

Cedar Fair (NYSE:FUN) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other equities research analysts also recently commented on FUN. 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 report on Friday, October 4th. Truist Financial lowered their price objective on Cedar Fair from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 21st. JPMorgan Chase & Co. lifted their price objective on Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Jefferies Financial Group started coverage on Cedar Fair in a research report on Monday, December 9th. They issued a “buy” rating and a $59.00 price objective for the company. Finally, Macquarie reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Cedar Fair in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Cedar Fair currently has an average rating of “Moderate Buy” and a consensus price target of $56.07.

Cedar Fair Stock Performance

Cedar Fair stock opened at $47.53 on Wednesday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.32 and a current ratio of 0.40. The stock has a fifty day moving average of $43.62 and a two-hundred day moving average of $45.07. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of -74.27 and a beta of 1.58. Cedar Fair has a fifty-two week low of $35.93 and a fifty-two week high of $58.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. S.A. Mason LLC lifted its stake 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 in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake 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 in the last quarter. Brookstone Capital Management acquired a new position in shares of Cedar Fair during the second quarter worth about $215,000. Mutual of America Capital Management LLC acquired a new position in shares of Cedar Fair during the third quarter worth about $260,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Cedar Fair by 26.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,688 shares of the company’s stock worth $418,000 after purchasing an additional 1,620 shares in the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.

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.