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

Cedar Fair (NYSE:FUN) had its price target lifted by equities researchers at Citigroup from $53.00 to $57.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 17.07% from the stock’s current price.

A number of other research firms also recently commented on FUN. Mizuho dropped their price target on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Oppenheimer cut their target price on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. B. Riley lowered their price target on Cedar Fair from $77.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. StockNews.com lowered Cedar Fair from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, Stifel Nicolaus lowered their target price on Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.85.

Cedar Fair Stock Performance

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

Institutional Investors Weigh In On Cedar Fair

Large investors have recently made changes to their positions in the company. Torno Capital LLC bought a new stake in Cedar Fair in the second quarter worth $4,413,000. Commonwealth Equity Services LLC raised its stake in shares of Cedar Fair by 4.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after acquiring an additional 826 shares in the last quarter. Ameritas Advisory Services LLC boosted its position in Cedar Fair by 31.1% during the second quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock worth $642,000 after purchasing an additional 2,804 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Cedar Fair by 26.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,688 shares of the company’s stock valued at $418,000 after purchasing an additional 1,620 shares during the last quarter. Finally, Cetera Advisors LLC raised its position in shares of 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 purchasing an additional 675 shares during the period. Institutional investors own 64.65% of the company’s stock.

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.