Cedar Fair (NYSE:FUN) Price Target Raised to $57.00 at Citigroup

Cedar Fair (NYSE:FUN) had its target price upped by investment analysts at Citigroup from $53.00 to $57.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 17.07% from the stock’s current price.

FUN has been the topic of several other research reports. Macquarie restated an “outperform” rating and issued a $55.00 price objective on shares of Cedar Fair in a research note on Thursday, November 7th. The Goldman Sachs Group decreased their price target on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on shares of Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Finally, Mizuho cut their price target on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.85.

Cedar Fair Stock Performance

NYSE:FUN traded up $2.50 during mid-day trading on Monday, hitting $48.69. 352,618 shares of the company’s stock traded hands, compared to its average volume of 990,293. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of -75.56 and a beta of 1.55. The firm has a 50 day moving average of $41.94 and a two-hundred day moving average of $44.79. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. Cedar Fair has a 12 month low of $35.93 and a 12 month high of $58.70.

Institutional Investors Weigh In On Cedar Fair

Hedge funds and other institutional investors have recently bought and sold shares of the business. Torno Capital LLC bought a new stake in shares of Cedar Fair during the second quarter valued at approximately $4,413,000. Brookstone Capital Management acquired a new stake in shares of Cedar Fair in the 2nd quarter valued at $215,000. Wealth Enhancement Advisory Services LLC raised its position 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 acquiring an additional 1,620 shares during the last quarter. CWM LLC lifted its stake in shares of Cedar Fair by 932.0% during the second 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. Finally, Cetera Advisors LLC boosted its holdings in Cedar Fair by 10.9% in the first quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock valued at $288,000 after acquiring an additional 675 shares during the last quarter. 64.65% of the stock is owned by institutional investors and hedge funds.

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.