Cedar Fair (NYSE:FUN) Price Target Cut to $52.00 by Analysts at Truist Financial

Cedar Fair (NYSE:FUN) had its price target reduced by equities researchers at Truist Financial from $56.00 to $52.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 33.68% from the stock’s previous close.

Several other equities research analysts have also commented on the company. Jefferies Financial Group initiated coverage on Cedar Fair in a research report on Monday, December 9th. They issued a “buy” rating and a $59.00 price objective on the stock. Macquarie reissued an “outperform” rating and set a $55.00 target price on shares of Cedar Fair in a research note on Friday, March 7th. StockNews.com cut Cedar Fair from a “hold” rating to a “sell” rating in a research report on Thursday, March 6th. Guggenheim decreased their target price on Cedar Fair from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Finally, Mizuho reduced their price objective on shares of Cedar Fair from $54.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.57.

Cedar Fair Trading Up 3.9 %

NYSE FUN opened at $38.90 on Tuesday. The company has a fifty day moving average of $42.53 and a 200 day moving average of $43.30. The company has a market capitalization of $3.90 billion, a PE ratio of -60.78 and a beta of 1.54. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32. Cedar Fair has a 1 year low of $33.83 and a 1 year high of $58.70.

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 position in shares of Cedar Fair, L.P. (NYSE:FUN) during the third 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. Institutional investors and hedge funds 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.