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

Cedar Fair (NYSE:FUN) had its price target increased by equities research analysts at Guggenheim from $52.00 to $55.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target suggests a potential upside of 20.43% from the stock’s current price.

Several other research analysts have also commented on the company. Truist Financial cut their price objective on Cedar Fair from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. StockNews.com lowered Cedar Fair from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Stifel Nicolaus dropped their target price on Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, Citigroup lowered their price objective on Cedar Fair from $61.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.92.

Cedar Fair Trading Down 0.6 %

NYSE:FUN opened at $45.67 on Tuesday. The business’s 50-day moving average is $41.00 and its two-hundred day moving average 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. Cedar Fair has a 12 month low of $35.93 and a 12 month high of $58.70. The firm has a market capitalization of $4.58 billion, a PE ratio of -71.36 and a beta of 1.55.

Hedge Funds Weigh In On Cedar Fair

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Torno Capital LLC acquired a new position in shares of Cedar Fair during the second quarter worth approximately $4,413,000. Brookstone Capital Management acquired a new position in shares of Cedar Fair during the second quarter worth approximately $215,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Cedar Fair by 26.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,688 shares of the company’s stock worth $418,000 after buying an additional 1,620 shares during the period. CWM LLC raised its holdings in Cedar Fair by 932.0% during the second quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after purchasing an additional 1,864 shares in the last quarter. Finally, Cetera Advisors LLC raised its holdings in Cedar Fair by 10.9% during the first quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after purchasing an additional 675 shares in the last quarter. 64.65% of the stock is currently 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.