Cedar Fair (NYSE:FUN) Reaches New 12-Month Low - Here's Why

Cedar Fair, L.P. (NYSE:FUN - Get Free Report)'s share price 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. The stock had previously closed at $35.23.

Analysts Set New Price Targets

FUN has been the subject of several recent analyst reports. Guggenheim decreased their price target on Cedar Fair from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Stifel Nicolaus reduced their price target on Cedar Fair from $64.00 to $52.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Truist Financial lowered their price objective on Cedar Fair from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Morgan Stanley lowered their target price on Cedar Fair from $58.00 to $47.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, StockNews.com downgraded Cedar Fair from a "hold" rating to a "sell" rating in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.73.

Cedar Fair Stock Down 1.0 %

The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95. The company's 50 day moving average price is $35.59 and its 200 day moving average price is $41.99. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -55.11 and a beta of 0.84.

Institutional Investors Weigh In On Cedar Fair

A hedge fund recently raised its stake in Cedar Fair stock. Peregrine Capital Management LLC increased its holdings in shares of Cedar Fair, L.P. (NYSE:FUN - Free Report) by 7.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 131,499 shares of the company's stock after acquiring an additional 9,231 shares during the period. Peregrine Capital Management LLC owned approximately 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.