Brokerages Set Cedar Fair, L.P. (NYSE:FUN) Price Target at $56.07

Cedar Fair, L.P. (NYSE:FUN) has been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $56.07.

A number of equities analysts recently commented on the company. Oppenheimer decreased their target price on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. StockNews.com raised Cedar Fair from a “sell” rating to a “hold” rating in a research report on Thursday. Macquarie reiterated an “outperform” rating and set a $55.00 price objective on shares of Cedar Fair in a research note on Thursday, November 7th. Guggenheim raised their target price on shares of Cedar Fair from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. upped their price target 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.

Institutional Investors Weigh In On Cedar Fair

Hedge funds have recently made changes to their positions in the company. S.A. Mason LLC grew its holdings in Cedar Fair by 63.1% during the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after buying an additional 384 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position 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 worth $157,000 after purchasing an additional 1,400 shares during the last quarter. Mutual of America Capital Management LLC purchased a new stake in Cedar Fair during the third quarter valued at $260,000. Ameritas Advisory Services LLC lifted its position in Cedar Fair by 31.1% during the second quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock valued at $642,000 after purchasing an additional 2,804 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Cedar Fair by 4.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock worth $1,022,000 after buying an additional 826 shares in the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Cedar Fair Stock Down 1.1 %

FUN opened at $49.08 on Wednesday. The firm’s 50 day simple moving average is $45.38 and its two-hundred day simple moving average is $45.37. The company has a market capitalization of $4.92 billion, a PE ratio of -76.69 and a beta of 1.58. Cedar Fair has a 1-year low of $35.93 and a 1-year high of $58.70. 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 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.