Cedar Fair, L.P. (NYSE:FUN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Cedar Fair, L.P. (NYSE:FUN) have earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $50.87.

A number of equities research analysts have recently weighed in on the stock. Truist Financial lowered their price objective on shares of Cedar Fair from $52.00 to $45.00 and set a “buy” rating for the company in a report on Monday, April 14th. Barclays initiated coverage on shares of Cedar Fair in a report on Friday, March 14th. They set an “overweight” rating and a $41.00 target price for the company. StockNews.com downgraded shares of Cedar Fair from a “hold” rating to a “sell” rating in a research report on Thursday, March 6th. Guggenheim decreased their target price on shares of Cedar Fair from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Cedar Fair from $46.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, April 17th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cedar Fair stock. Peregrine Capital Management LLC boosted its stake in Cedar Fair, L.P. (NYSE:FUN) by 7.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 131,499 shares of the company’s stock after acquiring an additional 9,231 shares during the quarter. Peregrine Capital Management LLC owned 0.13% of Cedar Fair worth $4,691,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Cedar Fair Price Performance

FUN opened at $35.53 on Tuesday. The firm has a 50-day moving average price of $36.68 and a 200-day moving average price of $42.14. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of -55.51 and a beta of 1.21. Cedar Fair has a twelve month low of $28.02 and a twelve month high of $58.70. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95.

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.