Truist Financial Cuts Cedar Fair (NYSE:FUN) Price Target to $52.00

Cedar Fair (NYSE:FUN) had its target price decreased by Truist Financial from $56.00 to $52.00 in a report published on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other brokerages have also recently commented on FUN. StockNews.com cut shares of Cedar Fair from a “hold” rating to a “sell” rating in a research report on Thursday, March 6th. Citigroup increased their price objective on shares of Cedar Fair from $53.00 to $57.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Macquarie restated an “outperform” rating and set a $55.00 target price on shares of Cedar Fair in a report on Friday, March 7th. Mizuho cut their price target on Cedar Fair from $54.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, Barclays initiated coverage on Cedar Fair in a research note on Friday, March 14th. They set an “overweight” rating and a $41.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.57.

Cedar Fair Price Performance

Shares of Cedar Fair stock opened at $37.08 on Tuesday. The stock has a market capitalization of $3.72 billion, a P/E ratio of -57.94 and a beta of 1.54. The business has a 50 day simple moving average of $42.05 and a two-hundred day simple moving average of $43.19. Cedar Fair has a 12 month low of $33.83 and a 12 month high of $58.70. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32.

Institutional Investors 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 shares of Cedar Fair, L.P. (NYSE:FUN) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,459 shares of the company’s stock, valued at approximately $260,000. 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.