Cedar Fair (NYSE:FUN) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Cedar Fair (NYSE:FUN) from a hold rating to a sell rating in a report issued on Thursday morning.

A number of other equities research analysts also recently issued reports on the company. Truist Financial boosted their price target on Cedar Fair from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price objective on Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Guggenheim cut their price objective on Cedar Fair from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup boosted their price objective on Cedar Fair from $53.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Jefferies Financial Group assumed coverage on Cedar Fair in a research note on Monday, December 9th. They set a “buy” rating and a $59.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Cedar Fair currently has a consensus rating of “Moderate Buy” and an average target price of $56.15.

Cedar Fair Trading Down 3.3 %

Cedar Fair stock opened at $37.71 on Thursday. The business has a 50-day simple moving average of $44.90 and a two-hundred day simple moving average of $43.86. The company has a market cap of $3.78 billion, a P/E ratio of -58.93 and a beta of 1.54. Cedar Fair has a 52-week low of $35.93 and a 52-week high of $58.70. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95.

Institutional Trading of Cedar Fair

A hedge fund recently bought a new stake in Cedar Fair stock. Mutual of America Capital Management LLC acquired a new position in shares of Cedar Fair, L.P. (NYSE:FUN) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,459 shares of the company’s stock, valued at approximately $260,000. Institutional investors and hedge funds 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.