Cedar Fair (NYSE:FUN) Receives “Outperform” Rating from Macquarie

Macquarie reissued their outperform rating on shares of Cedar Fair (NYSE:FUN) in a report issued on Friday morning,Benzinga reports. The brokerage currently has a $55.00 target price on the stock.

Other analysts also recently issued research reports about the company. Truist Financial raised their price objective on Cedar Fair from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. StockNews.com lowered shares of Cedar Fair from a “hold” rating to a “sell” rating in a report on Thursday. Citigroup raised their price objective on shares of Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. upped their target price on shares of Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Finally, Guggenheim cut their price target on shares of Cedar Fair from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.15.

Cedar Fair Stock Down 3.3 %

Shares of FUN opened at $37.71 on Friday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.32 and a current ratio of 0.40. The company has a 50-day simple moving average of $44.90 and a 200-day simple moving average of $43.85. Cedar Fair has a 52 week low of $35.93 and a 52 week high of $58.70. The firm has a market capitalization of $3.78 billion, a P/E ratio of -58.93 and a beta of 1.54.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cedar Fair stock. Mutual of America Capital Management LLC acquired a new stake in Cedar Fair, L.P. (NYSE:FUN) during the third quarter, according to its most recent filing with the SEC. The firm acquired 6,459 shares of the company’s stock, valued at approximately $260,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

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.