Cedar Fair (NYSE:FUN) Stock Passes Above 200 Day Moving Average – What’s Next?

Cedar Fair, L.P. (NYSE:FUN) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $43.97 and traded as high as $45.44. Cedar Fair shares last traded at $44.00, with a volume of 2,290,296 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently commented on FUN. Guggenheim lifted their target price 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. Citigroup lifted their price target on Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. 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 price target on the stock. Truist Financial boosted their target price on shares of Cedar Fair from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Finally, Macquarie reaffirmed an “outperform” rating and set a $55.00 target price on shares of Cedar Fair in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.54.

Cedar Fair Stock Performance

The firm has a market cap of $4.41 billion, a P/E ratio of -68.74 and a beta of 1.55. The stock’s 50 day moving average is $45.87 and its two-hundred day moving average is $43.97. 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 purchased a new stake in Cedar Fair, L.P. (NYSE:FUN) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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.