Cedar Fair (NYSE:FUN) Sets New 12-Month Low – Here’s What Happened

Cedar Fair, L.P. (NYSE:FUN)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $32.01 and last traded at $32.30, with a volume of 821762 shares changing hands. The stock had previously closed at $37.37.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. StockNews.com downgraded Cedar Fair from a “hold” rating to a “sell” rating in a research note on Thursday, March 6th. Mizuho lowered their price target on shares of Cedar Fair from $54.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Barclays initiated coverage on shares of Cedar Fair in a research report on Friday, March 14th. They issued an “overweight” rating and a $41.00 price objective on the stock. Guggenheim decreased their target price on shares of Cedar Fair from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, Truist Financial dropped their price target on shares of Cedar Fair from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.57.

Cedar Fair Price Performance

The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -49.05 and a beta of 1.54. The business has a 50-day simple moving average of $40.85 and a two-hundred day simple moving average of $42.95. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95.

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.