Cedar Fair (NYSE:FUN) Given New $55.00 Price Target at Guggenheim

Cedar Fair (NYSE:FUN) had its price objective boosted by Guggenheim from $52.00 to $55.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on FUN. Truist Financial decreased their target price on Cedar Fair from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Citigroup decreased their target price on Cedar Fair from $61.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Mizuho decreased their target price on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group decreased their target price on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com cut Cedar Fair from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.92.

Cedar Fair Trading Up 0.6 %

NYSE:FUN opened at $45.91 on Tuesday. The stock has a market cap of $4.60 billion, a P/E ratio of -71.73 and a beta of 1.55. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.32 and a current ratio of 0.40. Cedar Fair has a 1 year low of $35.93 and a 1 year high of $58.70. The stock has a 50-day simple moving average of $41.12 and a 200-day simple moving average of $44.62.

Hedge Funds Weigh In On Cedar Fair

Large investors have recently modified their holdings of the business. Torno Capital LLC purchased a new position in shares of Cedar Fair during the 2nd quarter worth approximately $4,413,000. Brookstone Capital Management purchased a new position in shares of Cedar Fair during the 2nd quarter worth approximately $215,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Cedar Fair by 26.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,688 shares of the company’s stock worth $418,000 after buying an additional 1,620 shares in the last quarter. CWM LLC raised its stake in shares of Cedar Fair by 932.0% during the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after buying an additional 1,864 shares in the last quarter. Finally, Cetera Advisors LLC raised its stake in shares of Cedar Fair by 10.9% during the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after buying an additional 675 shares in the last quarter. 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.