Jefferies Financial Group Begins Coverage on Cedar Fair (NYSE:FUN)

Analysts at Jefferies Financial Group started coverage on shares of Cedar Fair (NYSE:FUN) in a report released on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $59.00 price target on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 24.84% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Macquarie reaffirmed an “outperform” rating and set a $55.00 target price on shares of Cedar Fair in a report on Thursday, November 7th. StockNews.com cut shares of Cedar Fair from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Truist Financial decreased their target price on shares of Cedar Fair from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Oppenheimer dropped their price target on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Finally, Guggenheim lifted their price objective on Cedar Fair from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.07.

Cedar Fair Stock Performance

Shares of NYSE:FUN opened at $47.26 on Monday. 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 $35.93 and a 1 year high of $58.70. The firm has a market capitalization of $4.74 billion, a PE ratio of -73.84 and a beta of 1.58. The business’s 50 day moving average price is $42.64 and its 200-day moving average price is $44.93.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Torno Capital LLC purchased a new stake in shares of Cedar Fair in the 2nd quarter valued at $4,413,000. Commonwealth Equity Services LLC grew its position in Cedar Fair by 4.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after acquiring an additional 826 shares in the last quarter. Ameritas Advisory Services LLC increased its stake in Cedar Fair by 31.1% during the second quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock worth $642,000 after purchasing an additional 2,804 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Cedar Fair by 26.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,688 shares of the company’s stock worth $418,000 after purchasing an additional 1,620 shares in the last quarter. Finally, Cetera Advisors LLC boosted its stake in shares of Cedar Fair by 10.9% in the first quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock valued at $288,000 after purchasing an additional 675 shares during the period. 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.