Cedar Fair (NYSE:FUN) Sets New 52-Week Low - Should You Sell?

Cedar Fair, L.P. (NYSE:FUN - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $33.14 and last traded at $34.35, with a volume of 1623635 shares changing hands. The stock had previously closed at $35.23.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FUN shares. Guggenheim dropped their price target on Cedar Fair from $55.00 to $50.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Jefferies Financial Group dropped their target price on Cedar Fair from $58.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Stifel Nicolaus decreased their price target on Cedar Fair from $64.00 to $52.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Barclays began coverage on shares of Cedar Fair in a research note on Friday, March 14th. They set an "overweight" rating and a $41.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their target price on shares of Cedar Fair from $46.00 to $28.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.87.

Cedar Fair Trading Up 2.2 %

The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32. The firm has a market capitalization of $3.58 billion, a PE ratio of -55.75 and a beta of 1.21. The stock's 50-day moving average price is $35.80 and its 200 day moving average price is $42.00.

Institutional Investors Weigh In On Cedar Fair

An institutional investor recently raised its position in Cedar Fair stock. Peregrine Capital Management LLC lifted its position in Cedar Fair, L.P. (NYSE:FUN - Free Report) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,499 shares of the company's stock after acquiring an additional 9,231 shares during the quarter. Peregrine Capital Management LLC owned 0.13% of Cedar Fair worth $4,691,000 as of its most recent SEC filing. 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.