Cedar Fair (NYSE:FUN) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Cedar Fair (NYSE:FUN) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

FUN has been the subject of several other research reports. Jefferies Financial Group assumed coverage on shares of Cedar Fair in a research report on Monday, December 9th. They issued a “buy” rating and a $59.00 price objective for the company. Oppenheimer decreased their price objective on shares of Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Macquarie reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Cedar Fair in a report on Thursday, November 7th. Citigroup upped their target price on Cedar Fair from $53.00 to $57.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Cedar Fair from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.07.

Cedar Fair Stock Down 2.7 %

Cedar Fair stock opened at $46.25 on Wednesday. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of -72.26 and a beta of 1.58. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. Cedar Fair has a twelve month low of $35.93 and a twelve month high of $58.70. The stock has a 50 day moving average of $44.01 and a two-hundred day moving average of $45.11.

Hedge Funds Weigh In On Cedar Fair

Several hedge funds have recently made changes to their positions in FUN. Wealth Enhancement Advisory Services LLC boosted its stake in Cedar Fair by 26.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,688 shares of the company’s stock worth $418,000 after purchasing an additional 1,620 shares in the last quarter. Brookstone Capital Management bought a new stake in Cedar Fair in the 2nd quarter worth approximately $215,000. Ameritas Advisory Services LLC raised its stake in Cedar Fair by 31.1% during the second quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock valued at $642,000 after purchasing an additional 2,804 shares in the last quarter. Commonwealth Equity Services LLC raised 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 during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Cedar Fair by 94.1% during the 2nd 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 period. 64.65% of the stock is owned by hedge funds and other 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.