Truist Financial Issues Pessimistic Forecast for Cedar Fair (NYSE:FUN) Stock Price

Cedar Fair (NYSE:FUN) had its price objective dropped by Truist Financial from $56.00 to $52.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 39.49% from the company’s current price.

Other analysts have also issued reports about the stock. Jefferies Financial Group began coverage on shares of Cedar Fair in a research report on Monday, December 9th. They set a “buy” rating and a $59.00 price target for the company. Macquarie restated an “outperform” rating and set a $55.00 target price on shares of Cedar Fair in a report on Friday, March 7th. Guggenheim decreased their price target on Cedar Fair from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Barclays began coverage on Cedar Fair in a research note on Friday, March 14th. They set an “overweight” rating and a $41.00 price objective for the company. Finally, Citigroup lifted their target price 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. Two analysts have rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Cedar Fair currently has a consensus rating of “Moderate Buy” and an average target price of $54.57.

Cedar Fair Price Performance

Shares of Cedar Fair stock opened at $37.28 on Tuesday. 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 $33.83 and a 52-week high of $58.70. The company has a fifty day moving average of $42.20 and a 200-day moving average of $43.23. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -58.25 and a beta of 1.54.

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 acquired a new position in Cedar Fair, L.P. (NYSE:FUN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 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.

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.