Barclays Initiates Coverage on Cedar Fair (NYSE:FUN)

Barclays began coverage on shares of Cedar Fair (NYSE:FUN) in a research report released on Friday morning, MarketBeat reports. The brokerage issued an overweight rating and a $41.00 target price on the stock.

FUN has been the subject of several other research reports. Truist Financial upped their target price on shares of Cedar Fair from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Guggenheim dropped their price objective on Cedar Fair from $55.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. StockNews.com cut Cedar Fair from a “hold” rating to a “sell” rating in a report on Thursday, March 6th. Citigroup upped their price target on Cedar Fair from $53.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Macquarie reissued an “outperform” rating and set a $55.00 price objective on shares of Cedar Fair in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Cedar Fair currently has an average rating of “Moderate Buy” and a consensus target price of $55.07.

Cedar Fair Stock Up 8.0 %

Shares of NYSE:FUN opened at $37.88 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of -59.19 and a beta of 1.54. The company has a 50 day moving average of $43.69 and a 200-day moving average of $43.57. Cedar Fair has a one year low of $33.83 and a one year high of $58.70.

Hedge Funds Weigh In On Cedar Fair

An institutional investor recently bought a new position in Cedar Fair stock. Mutual of America Capital Management LLC purchased a new stake in Cedar Fair, L.P. (NYSE:FUN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,459 shares of the company’s stock, valued at approximately $260,000. 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.