Citigroup Forecasts Strong Price Appreciation for Cedar Fair (NYSE:FUN) Stock

Cedar Fair (NYSE:FUN) had its target price raised by equities research analysts at Citigroup from $53.00 to $57.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 20.74% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group decreased their price target on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Truist Financial decreased their price target on Cedar Fair from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Stifel Nicolaus decreased their price target on Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, August 9th. B. Riley decreased their price target on Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Oppenheimer decreased their price target on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. 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. According to data from MarketBeat.com, Cedar Fair has an average rating of “Moderate Buy” and a consensus target price of $55.85.

Cedar Fair Price Performance

NYSE:FUN opened at $47.21 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. The stock has a 50-day simple moving average of $42.08 and a 200 day simple moving average of $44.82. Cedar Fair has a 52-week low of $35.93 and a 52-week high of $58.70.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FUN. Cetera Advisors LLC raised its stake in shares of Cedar Fair by 10.9% in 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 during the last quarter. CWM LLC grew its holdings in shares of Cedar Fair by 932.0% in the second quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after acquiring an additional 1,864 shares in the last quarter. Thrive Wealth Management LLC bought a new position in Cedar Fair during the second quarter valued at $252,000. Wealth Enhancement Advisory Services LLC grew its holdings in Cedar Fair by 26.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,688 shares of the company’s stock valued at $418,000 after purchasing an additional 1,620 shares during the period. Finally, Brookstone Capital Management bought a new position in Cedar Fair during the second quarter valued at $215,000. 64.65% of the stock is owned by institutional investors and hedge funds.

Cedar Fair Company Profile

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.