Cedar Fair (NYSE:FUN) Raised to "Hold" at StockNews.com

StockNews.com upgraded shares of Cedar Fair (NYSE:FUN - Free Report) from a sell rating to a hold rating in a research note released on Thursday.

A number of other brokerages also recently issued reports on FUN. Guggenheim increased their price target on shares of Cedar Fair from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their target price 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. Truist Financial dropped their target price on shares of Cedar Fair from $60.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft reduced their price target on Cedar Fair from $65.00 to $58.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. Finally, The Goldman Sachs Group dropped their price target on Cedar Fair from $55.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $56.07.

Cedar Fair Stock Performance

Shares of FUN stock traded up $0.57 on Thursday, hitting $49.64. 625,992 shares of the stock were exchanged, compared to its average volume of 1,012,748. The firm has a market capitalization of $4.98 billion, a PE ratio of -77.56 and a beta of 1.58. Cedar Fair has a one year low of $35.93 and a one year high of $58.70. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. The firm's 50 day moving average is $45.19 and its two-hundred day moving average is $45.32.

Hedge Funds Weigh In On Cedar Fair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FUN. S.A. Mason LLC boosted its holdings in shares of Cedar Fair by 63.1% in the 3rd 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 period. Benjamin F. Edwards & Company Inc. lifted its position in shares of 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 purchasing an additional 1,400 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in Cedar Fair in the 3rd quarter worth about $260,000. Ameritas Advisory Services LLC increased its holdings in Cedar Fair by 31.1% during the 2nd quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company's stock worth $642,000 after purchasing an additional 2,804 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in Cedar Fair by 4.6% during the second 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 in the last quarter. 64.65% of the stock is owned by institutional investors.

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.