Cedar Fair (NYSE:FUN) Price Target Raised to $56.00

Cedar Fair (NYSE:FUN) had its target price hoisted by Truist Financial from $54.00 to $56.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Guggenheim increased their price target on Cedar Fair from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. 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 report on Tuesday, October 15th. The Goldman Sachs Group cut their price target 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. Macquarie reiterated an “outperform” rating and set a $55.00 price objective on shares of Cedar Fair in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of Cedar Fair from a “sell” rating to a “hold” rating in a research note on Thursday, December 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.21.

Cedar Fair Stock Performance

Cedar Fair stock opened at $46.90 on Tuesday. 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 firm has a market capitalization of $4.70 billion, a P/E ratio of -73.28 and a beta of 1.56. Cedar Fair has a 1-year low of $35.93 and a 1-year high of $58.70. The company’s 50-day moving average is $46.69 and its 200 day moving average is $45.30.

Institutional Investors Weigh In On Cedar Fair

A number of institutional investors have recently added to or reduced their stakes in FUN. S.A. Mason LLC lifted 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 last quarter. Benjamin F. Edwards & Company Inc. boosted 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 valued at $157,000 after acquiring an additional 1,400 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in Cedar Fair in the third quarter worth $260,000. Commonwealth Equity Services LLC increased its position in shares of Cedar Fair by 4.6% during the second quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock worth $1,022,000 after purchasing an additional 826 shares in the last quarter. Finally, Torno Capital LLC purchased a new stake in shares of Cedar Fair during the 2nd quarter valued at $4,413,000. Institutional investors own 64.65% of the company’s stock.

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.