Cedar Fair, L.P. (NYSE:FUN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Cedar Fair, L.P. (NYSE:FUN) have been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $56.54.

A number of equities research analysts have recently weighed in on FUN shares. Macquarie reiterated an “outperform” rating and issued a $55.00 price target on shares of Cedar Fair in a research report on Thursday, November 7th. Guggenheim boosted their price objective on shares of Cedar Fair from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Jefferies Financial Group started coverage on shares of Cedar Fair in a research report on Monday, December 9th. They set a “buy” rating and a $59.00 price objective for the company. Citigroup boosted their price objective on shares of Cedar Fair from $53.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group lowered their price objective on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, October 25th.

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 Cedar Fair, L.P. (NYSE:FUN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,459 shares of the company’s stock, valued at approximately $260,000. 64.65% of the stock is currently owned by institutional investors.

Cedar Fair Stock Up 3.4 %

NYSE FUN opened at $47.32 on Thursday. 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 company has a 50 day moving average of $46.01 and a 200-day moving average of $43.90. The company has a market cap of $4.74 billion, a price-to-earnings ratio of -73.93 and a beta of 1.55.

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.