Cedar Fair (NYSE:FUN) Price Target Raised to $56.00 at Truist Financial

Cedar Fair (NYSE:FUN) had its price objective raised by stock analysts at Truist Financial from $54.00 to $56.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 15.51% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Cedar Fair in a report on Monday, December 9th. They issued a “buy” rating and a $59.00 target price on the stock. Guggenheim increased their target price on Cedar Fair from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft decreased their price target on Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a report on Friday, October 4th. StockNews.com raised Cedar Fair from a “sell” rating to a “hold” rating in a report on Thursday, December 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Cedar Fair presently has an average rating of “Moderate Buy” and an average target price of $56.21.

Cedar Fair Price Performance

Shares of FUN stock traded down $0.53 on Tuesday, reaching $48.48. 143,125 shares of the company were exchanged, compared to its average volume of 957,592. The business has a 50-day moving average price of $46.31 and a 200 day moving average price of $45.30. 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 market cap of $4.86 billion, a price-to-earnings ratio of -75.75 and a beta of 1.56. Cedar Fair has a 1 year low of $35.93 and a 1 year 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 the stock. Mutual of America Capital Management LLC bought a new stake in shares of Cedar Fair during the 3rd quarter valued at $260,000. S.A. Mason LLC grew its stake in Cedar Fair by 63.1% in the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares in the last quarter. Torno Capital LLC bought a new stake in shares of Cedar Fair in the 2nd quarter valued at about $4,413,000. Benjamin F. Edwards & Company Inc. boosted its position in Cedar Fair by 94.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after purchasing an additional 1,400 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in Cedar Fair by 4.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock worth $1,022,000 after purchasing an additional 826 shares during the last quarter. 64.65% of the stock is owned by 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.