Cedar Fair (NYSE:FUN) Cut to Sell at StockNews.com

StockNews.com lowered shares of Cedar Fair (NYSE:FUN) from a hold rating to a sell rating in a research report released on Wednesday morning.

Several other equities research analysts have also weighed in on FUN. Jefferies Financial Group initiated coverage on Cedar Fair in a research report on Monday, December 9th. They issued a “buy” rating and a $59.00 target price on the stock. Macquarie reiterated an “outperform” rating and issued a $55.00 price objective on shares of Cedar Fair in a research report on Thursday, November 7th. The Goldman Sachs Group decreased their target price on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Oppenheimer reduced their price objective on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. raised their target price on Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cedar Fair has a consensus rating of “Moderate Buy” and an average target price of $56.21.

Cedar Fair Stock Performance

Shares of FUN stock opened at $43.25 on Wednesday. The company has a market cap of $4.34 billion, a P/E ratio of -67.57 and a beta of 1.55. The business has a 50 day moving average of $46.07 and a two-hundred day moving average of $43.94. Cedar Fair has a 52 week low of $35.93 and a 52 week high of $58.70. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95.

Hedge Funds Weigh In On Cedar Fair

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