Truist Financial Forecasts Strong Price Appreciation for Cedar Fair (NYSE:FUN) Stock

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

FUN has been the subject of a number of other research reports. Citigroup lifted their price target on Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on Cedar Fair from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Jefferies Financial Group assumed coverage on shares of Cedar Fair in a research report on Monday, December 9th. They set a “buy” rating and a $59.00 price target for the company. Macquarie reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Cedar Fair in a report on Thursday, November 7th. Finally, The Goldman Sachs Group reduced their target price on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cedar Fair presently has an average rating of “Moderate Buy” and a consensus target price of $56.21.

Cedar Fair Trading Down 2.0 %

Shares of Cedar Fair stock opened at $46.90 on Tuesday. Cedar Fair has a 12-month low of $35.93 and a 12-month high of $58.70. The firm’s 50 day simple moving average is $46.69 and its two-hundred day simple moving average is $45.30. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of -73.28 and a beta of 1.56.

Hedge Funds Weigh In On Cedar Fair

A number of large investors have recently bought and sold shares of the business. Mutual of America Capital Management LLC purchased a new stake in shares of Cedar Fair in the third quarter valued at approximately $260,000. S.A. Mason LLC grew its stake in Cedar Fair by 63.1% in the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after acquiring an additional 384 shares during the period. Torno Capital LLC purchased a new stake in Cedar Fair in the 2nd quarter worth $4,413,000. Benjamin F. Edwards & Company Inc. raised its position in 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 acquiring an additional 1,400 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in Cedar Fair by 4.6% during the second quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after purchasing an additional 826 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.