Cedar Fair, L.P. (NYSE:FUN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $55.85.

Several brokerages have issued reports on FUN. Guggenheim lifted their price target on shares of Cedar Fair from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price objective on shares of Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Citigroup boosted their price objective on shares of Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Cedar Fair from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Finally, Mizuho lowered their price objective on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th.

Cedar Fair Stock Up 2.4 %

Shares of FUN stock opened at $48.34 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. Cedar Fair has a 1 year low of $35.93 and a 1 year high of $58.70. The firm’s fifty day moving average price is $42.20 and its two-hundred day moving average price is $44.85. The firm has a market capitalization of $4.85 billion, a P/E ratio of -73.76 and a beta of 1.58.

Institutional Trading of Cedar Fair

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC bought a new stake in Cedar Fair in the 3rd quarter valued at about $260,000. S.A. Mason LLC boosted its holdings in Cedar Fair by 63.1% in the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares during the period. Torno Capital LLC bought a new stake in Cedar Fair in the 2nd quarter valued at about $4,413,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Cedar Fair by 94.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after purchasing an additional 1,400 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in 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 purchasing an additional 826 shares during the period. Institutional investors own 64.65% of the company’s stock.

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.