Mizuho Has Lowered Expectations for Cedar Fair (NYSE:FUN) Stock Price

Cedar Fair (NYSE:FUN) had its price objective reduced by equities researchers at Mizuho from $54.00 to $49.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 33.08% from the stock’s previous close.

Several other brokerages also recently weighed in on FUN. Guggenheim lowered their price objective on Cedar Fair from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Truist Financial upped their price target on shares of Cedar Fair from $54.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Macquarie reissued an “outperform” rating and set a $55.00 price target on shares of Cedar Fair in a research report on Friday, March 7th. Jefferies Financial Group started coverage on shares of Cedar Fair in a research report on Monday, December 9th. They issued a “buy” rating and a $59.00 price objective on the stock. Finally, Citigroup increased their target price 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. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.86.

Cedar Fair Trading Down 0.8 %

Shares of FUN traded down $0.31 during trading hours on Friday, hitting $36.82. The company had a trading volume of 605,292 shares, compared to its average volume of 1,407,457. Cedar Fair has a 52-week low of $33.83 and a 52-week high of $58.70. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95. The stock’s 50 day moving average price is $42.85 and its 200 day moving average price is $43.39. The firm has a market cap of $3.69 billion, a P/E ratio of -57.53 and a beta of 1.54.

Institutional Trading of Cedar Fair

A hedge fund recently bought a new stake in Cedar Fair stock. Mutual of America Capital Management LLC acquired a new position in shares of Cedar Fair, L.P. (NYSE:FUN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,459 shares of the company’s stock, valued at approximately $260,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

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.