Cedar Fair (NYSE:FUN) Given New $50.00 Price Target at Guggenheim

Cedar Fair (NYSE:FUN) had its price target lowered by Guggenheim from $55.00 to $50.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on FUN. JPMorgan Chase & Co. upped 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. StockNews.com downgraded Cedar Fair from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Citigroup upped their price objective on Cedar Fair from $53.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Macquarie restated an “outperform” rating and set a $55.00 price objective on shares of Cedar Fair in a research report on Thursday, November 7th. Finally, Truist Financial upped their price objective on Cedar Fair from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.15.

Cedar Fair Price Performance

Shares of Cedar Fair stock opened at $41.10 on Wednesday. The stock has a 50 day moving average of $45.50 and a 200 day moving average of $43.97. Cedar Fair has a 12 month low of $35.93 and a 12 month high of $58.70. The firm has a market cap of $4.12 billion, a PE ratio of -64.22 and a beta of 1.55. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cedar Fair stock. Mutual of America Capital Management LLC acquired a new position in Cedar Fair, L.P. (NYSE:FUN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,459 shares of the company’s stock, valued at approximately $260,000. Institutional investors 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.