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

Cedar Fair (NYSE:FUN) had its price target hoisted by stock analysts at Guggenheim from $52.00 to $55.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 20.43% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Truist Financial dropped their price target on Cedar Fair from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 21st. The Goldman Sachs Group dropped their price target on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. StockNews.com downgraded shares of Cedar Fair from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Two research 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 an average rating of “Moderate Buy” and a consensus target price of $55.92.

Cedar Fair Price Performance

Shares of NYSE:FUN opened at $45.67 on Tuesday. Cedar Fair has a 12 month low of $35.93 and a 12 month high of $58.70. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of -71.36 and a beta of 1.55. The stock’s 50 day moving average price is $41.00 and its 200 day moving average price is $44.57. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32.

Institutional Investors Weigh In On Cedar Fair

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mutual of America Capital Management LLC bought a new position in Cedar Fair during the third quarter worth about $260,000. S.A. Mason LLC lifted its stake in Cedar Fair by 63.1% during the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares during the period. Torno Capital LLC bought a new position in Cedar Fair during the second quarter worth about $4,413,000. Benjamin F. Edwards & Company Inc. lifted its stake 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 purchasing an additional 1,400 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in Cedar Fair by 4.6% during the second quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock worth $1,022,000 after purchasing an additional 826 shares during the period. 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.