StockNews.com Upgrades Cedar Fair (NYSE:FUN) to Hold

Cedar Fair (NYSE:FUN) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

A number of other equities research analysts have also recently commented on FUN. Jefferies Financial Group started coverage on shares of Cedar Fair in a research report on Monday. They issued a “buy” rating and a $59.00 target price for the company. Citigroup increased their target price on shares of Cedar Fair from $53.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. The Goldman Sachs Group cut their price objective on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Macquarie restated an “outperform” rating and set a $55.00 price objective on shares of Cedar Fair in a research report on Thursday, November 7th. Finally, Guggenheim raised their price objective on shares of Cedar Fair from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.07.

Cedar Fair Price Performance

Shares of NYSE FUN traded down $0.57 during mid-day trading on Monday, reaching $46.69. The company’s stock had a trading volume of 785,558 shares, compared to its average volume of 991,411. The stock has a 50-day moving average of $42.76 and a two-hundred day moving average of $44.95. The stock has a market capitalization of $4.68 billion, a P/E ratio of -72.95 and a beta of 1.58. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.32 and a current ratio of 0.40. Cedar Fair has a 1-year low of $35.93 and a 1-year high of $58.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. S.A. Mason LLC boosted its stake in shares of Cedar Fair by 63.1% in the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares during the period. CWM LLC lifted its stake in Cedar Fair by 932.0% in the second quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after acquiring an additional 1,864 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake 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 acquiring an additional 1,400 shares during the last quarter. Brookstone Capital Management purchased a new position in Cedar Fair in the second quarter worth approximately $215,000. Finally, Mutual of America Capital Management LLC purchased a new position in Cedar Fair in the third quarter worth approximately $260,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

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.