Cedar Fair (NYSE:FUN) Reaches New 52-Week Low – What’s Next?

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

Analyst Upgrades and Downgrades

FUN has been the topic of a number of research analyst reports. Truist Financial reduced their target price on Cedar Fair from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. StockNews.com downgraded shares of Cedar Fair from a “hold” rating to a “sell” rating in a report on Thursday, March 6th. Jefferies Financial Group started coverage on shares of Cedar Fair in a report on Monday, December 9th. They set a “buy” rating and a $59.00 target price on the stock. Macquarie reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Cedar Fair in a report on Friday, March 7th. Finally, Mizuho dropped their price objective on shares of Cedar Fair from $54.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.57.

Cedar Fair Price Performance

The business’s 50-day simple moving average is $41.36 and its 200 day simple moving average is $43.10. The company has a market capitalization of $3.21 billion, a P/E ratio of -49.98 and a beta of 1.54. 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 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.