Cedar Fair (NYSE:FUN) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Cedar Fair, L.P. (NYSE:FUN) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $44.43 and traded as high as $46.91. Cedar Fair shares last traded at $45.93, with a volume of 1,202,327 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FUN shares. Guggenheim started coverage on Cedar Fair in a research note on Tuesday, October 29th. They issued a “buy” rating and a $52.00 target price for the company. StockNews.com downgraded shares of Cedar Fair from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. increased their price target on shares of Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Stifel Nicolaus decreased their price objective on shares of Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Cedar Fair presently has a consensus rating of “Moderate Buy” and an average price target of $55.69.

Cedar Fair Stock Down 1.3 %

The company’s fifty day simple moving average is $40.91 and its 200 day simple moving average is $44.47. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95.

Institutional Investors Weigh In On Cedar Fair

Several hedge funds have recently made changes to their positions in FUN. Torno Capital LLC bought a new position in Cedar Fair in the second quarter worth $4,413,000. HAP Trading LLC bought a new position in shares of Cedar Fair in the 1st quarter worth about $1,329,000. HM Payson & Co. bought a new position in shares of Cedar Fair in the 1st quarter worth about $332,000. Mutual of America Capital Management LLC bought a new stake in Cedar Fair during the third quarter worth about $260,000. Finally, Thrive Wealth Management LLC bought a new stake in Cedar Fair during the second quarter worth about $252,000. 64.65% of the stock is currently owned by institutional investors.

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.