Cedar Fair (NYSE:FUN) Given New $56.00 Price Target at Truist Financial

Cedar Fair (NYSE:FUN) had its price objective raised by Truist Financial from $54.00 to $56.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently commented on FUN. Jefferies Financial Group began coverage on shares of Cedar Fair in a report on Monday, December 9th. They set a “buy” rating and a $59.00 price objective on the stock. The Goldman Sachs Group cut their price objective on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Macquarie reissued an “outperform” rating and set a $55.00 target price on shares of Cedar Fair in a report on Thursday, November 7th. Citigroup raised their price target on Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Cedar Fair from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.21.

Cedar Fair Stock Performance

Shares of FUN opened at $47.95 on Tuesday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32. The firm has a market cap of $4.81 billion, a PE ratio of -74.92 and a beta of 1.56. Cedar Fair has a 1 year low of $35.93 and a 1 year high of $58.70. The stock’s fifty day moving average price is $46.42 and its two-hundred day moving average price is $45.28.

Institutional Investors Weigh In On Cedar Fair

Hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its position in shares of Cedar Fair by 4.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after buying an additional 826 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Cedar Fair by 94.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after acquiring an additional 1,400 shares during the last quarter. Torno Capital LLC purchased a new stake in Cedar Fair during the second quarter valued at about $4,413,000. S.A. Mason LLC lifted its stake in Cedar Fair by 63.1% during the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares during the last quarter. Finally, Mutual of America Capital Management LLC bought a new stake in Cedar Fair during the third quarter worth about $260,000. 64.65% of the stock is currently owned by institutional investors.

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.