Truist Financial Forecasts Strong Price Appreciation for Cedar Fair (NYSE:FUN) Stock

Cedar Fair (NYSE:FUN) had its target price upped by investment analysts at Truist Financial from $54.00 to $56.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 19.40% from the stock’s current price.

Several other brokerages also recently issued reports on FUN. Guggenheim raised their price target on Cedar Fair from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. StockNews.com raised Cedar Fair from a “sell” rating to a “hold” rating in a research note on Thursday, December 26th. The Goldman Sachs Group reduced their price objective on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. raised their target price on shares of Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Finally, Citigroup upped their price target on shares of Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.21.

Cedar Fair Price Performance

Shares of NYSE:FUN opened at $46.90 on Tuesday. 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 firm has a 50-day simple moving average of $46.54 and a 200 day simple moving average of $45.29. Cedar Fair has a fifty-two week low of $35.93 and a fifty-two week high of $58.70. The company has a market cap of $4.70 billion, a PE ratio of -73.28 and a beta of 1.56.

Institutional Investors Weigh In On Cedar Fair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Torno Capital LLC bought a new stake in shares of Cedar Fair in the 2nd quarter valued at approximately $4,413,000. Commonwealth Equity Services LLC lifted its stake in shares of 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 purchasing an additional 826 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in Cedar Fair in the third quarter worth $260,000. Benjamin F. Edwards & Company Inc. increased its position in Cedar Fair by 94.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after buying an additional 1,400 shares during the last quarter. Finally, S.A. Mason LLC raised its holdings in Cedar Fair by 63.1% during the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after buying an additional 384 shares in the last quarter. Hedge funds and other institutional investors 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.