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

Cedar Fair, L.P. (NYSE:FUN) shares shot up 5.8% during trading 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. 384,244 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 990,489 shares. The stock had previously closed at $46.19.

Other equities analysts have also recently issued reports about the company. 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. Stifel Nicolaus reduced their price objective on Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 9th. StockNews.com downgraded shares of Cedar Fair from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Oppenheimer decreased their price objective 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. Finally, Truist Financial dropped their target price on shares of Cedar Fair from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.85.

Institutional Investors Weigh In On Cedar Fair

A number of hedge funds have recently bought and sold shares of FUN. S.A. Mason LLC boosted its position 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 valued at $40,000 after buying an additional 384 shares during the period. CWM LLC boosted its holdings in Cedar Fair by 932.0% during the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after acquiring an additional 1,864 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in 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 purchasing an additional 1,400 shares during the period. Brookstone Capital Management purchased a new stake in Cedar Fair in the second quarter worth $215,000. Finally, Thrive Wealth Management LLC bought a new stake in shares of Cedar Fair during the second quarter worth $252,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Cedar Fair Price Performance

The stock’s 50 day moving average price is $41.94 and its 200-day moving average price is $44.79. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $4.90 billion, a PE ratio of -76.08 and a beta of 1.55.

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.