Guggenheim Cuts Cedar Fair (NYSE:FUN) Price Target to $50.00

Cedar Fair (NYSE:FUN) had its price target cut by equities research analysts at Guggenheim from $55.00 to $50.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 21.59% from the stock’s current price.

Several other equities analysts have also issued reports on FUN. StockNews.com lowered Cedar Fair from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. Jefferies Financial Group initiated coverage on shares of Cedar Fair in a report on Monday, December 9th. They issued a “buy” rating and a $59.00 price target for the company. Macquarie reiterated an “outperform” rating and set a $55.00 price objective on shares of Cedar Fair in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Finally, Truist Financial upped their price target on Cedar Fair from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.15.

Cedar Fair Trading Up 1.7 %

NYSE FUN traded up $0.68 during mid-day trading on Wednesday, reaching $41.12. 33,720 shares of the stock were exchanged, compared to its average volume of 1,292,500. The stock has a market cap of $4.12 billion, a P/E 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. The stock has a 50 day simple moving average of $45.67 and a 200-day simple moving average of $44.00.

Institutional Trading of Cedar Fair

A hedge fund recently bought a new stake in Cedar Fair stock. Mutual of America Capital Management LLC purchased a new position in shares of Cedar Fair, L.P. (NYSE:FUN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,459 shares of the company’s stock, valued at approximately $260,000. 64.65% of the stock is owned by institutional investors and hedge funds.

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.