Guggenheim Issues Pessimistic Forecast for Cedar Fair (NYSE:FUN) Stock Price

Cedar Fair (NYSE:FUN) had its price objective dropped by equities research analysts at Guggenheim from $55.00 to $50.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 21.59% from the company’s previous close.

FUN has been the topic of a number of other research reports. Jefferies Financial Group assumed coverage on shares of Cedar Fair in a report on Monday, December 9th. They set a “buy” rating and a $59.00 target price on the stock. StockNews.com cut shares of Cedar Fair from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Citigroup lifted their price objective on Cedar Fair from $53.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. upped their target price on Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Finally, Truist Financial raised their price target on Cedar Fair from $54.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.15.

Cedar Fair Stock Performance

Shares of Cedar Fair stock traded up $0.68 during trading hours on Wednesday, reaching $41.12. The company had a trading volume of 33,720 shares, compared to its average volume of 1,292,500. The business has a fifty day simple moving average of $45.67 and a 200 day simple moving average of $44.00. The firm has a market cap of $4.12 billion, a PE ratio of -64.44 and a beta of 1.55. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32. Cedar Fair has a one year low of $35.93 and a one year high of $58.70.

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 stake in Cedar Fair, L.P. (NYSE:FUN) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 6,459 shares of the company’s stock, valued at approximately $260,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

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.