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

Analysts at Jefferies Financial Group began coverage on shares of Cedar Fair (NYSE:FUN) in a report issued on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $59.00 price target on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 27.25% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Truist Financial lowered their price objective on Cedar Fair from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 21st. JPMorgan Chase & Co. increased their price target on shares of Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Guggenheim boosted their price objective on shares of Cedar Fair from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Finally, Macquarie reissued an “outperform” rating and issued a $55.00 price target on shares of Cedar Fair in a research report on Thursday, November 7th. One 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. According to MarketBeat, Cedar Fair presently has an average rating of “Moderate Buy” and an average target price of $56.07.

Cedar Fair Stock Down 0.6 %

Shares of NYSE:FUN opened at $46.37 on Monday. 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 52-week low of $35.93 and a 52-week high of $58.70. The firm has a market capitalization of $4.65 billion, a P/E ratio of -72.45 and a beta of 1.58. The stock has a 50 day moving average price of $42.92 and a 200-day moving average price of $44.97.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FUN. S.A. Mason LLC boosted its holdings in Cedar Fair by 63.1% in the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares during the last quarter. CWM LLC raised its stake in Cedar Fair by 932.0% during the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after buying an additional 1,864 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Cedar Fair by 94.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after buying an additional 1,400 shares during the period. Brookstone Capital Management purchased a new position in shares of Cedar Fair in the 2nd quarter worth $215,000. Finally, Mutual of America Capital Management LLC bought a new stake in shares of Cedar Fair in the third quarter worth $260,000. 64.65% of the stock is owned by hedge funds and other 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.