Cedar Fair’s (FUN) Outperform Rating Reiterated at Macquarie

Cedar Fair (NYSE:FUN)‘s stock had its “outperform” rating reaffirmed by research analysts at Macquarie in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $55.00 price target on the stock. Macquarie’s target price would indicate a potential upside of 45.84% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on FUN. Jefferies Financial Group began coverage on Cedar Fair in a research note on Monday, December 9th. They set a “buy” rating and a $59.00 target price for the company. JPMorgan Chase & Co. upped their price objective on Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Truist Financial boosted their price target on shares of Cedar Fair from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. StockNews.com downgraded Cedar Fair from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Guggenheim cut their price target on shares of Cedar Fair from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.15.

Cedar Fair Price Performance

Shares of NYSE:FUN traded down $1.30 during midday trading on Friday, hitting $37.71. The company had a trading volume of 2,115,460 shares, compared to its average volume of 1,363,229. Cedar Fair has a twelve month low of $35.93 and a twelve month high of $58.70. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -58.93 and a beta of 1.54. The business’s 50-day simple moving average is $45.12 and its 200-day simple moving average is $43.91. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32.

Institutional Investors Weigh In On Cedar Fair

An institutional investor recently bought a new position in Cedar Fair stock. Mutual of America Capital Management LLC bought a new position in shares of Cedar Fair, L.P. (NYSE:FUN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,459 shares of the company’s stock, valued at approximately $260,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

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.