Cedar Fair L.P. (FUN) Shares Plummet Below 1-Year High

Cedar Fair L.P. (NYSE: FUN)’s stock price has plunge by -2.32relation to previous closing price of 42.28. Nevertheless, the company has seen a 0.49% surge in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-04 that ARW, FUN and ESLOY have been added to the Zacks Rank #5 (Strong Sell) List on March 4, 2023.

Is It Worth Investing in Cedar Fair L.P. (NYSE: FUN) Right Now?

Cedar Fair L.P. (NYSE: FUN) has a higher price-to-earnings ratio of 16.82x compared to its average ratio, The 36-month beta value for FUN is at 1.42. Analysts have varying views on the stock, with 5 analysts rating it as a “buy,” 4 rating it as “overweight,” 1 as “hold,” and 0 as “sell.”

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The public float for FUN is 45.58M, and currently, shorts hold a 6.44% of that float. The average trading volume for FUN on April 02, 2024 was 221.72K shares.

FUN’s Market Performance

The stock of Cedar Fair L.P. (FUN) has seen a 0.49% increase in the past week, with a -2.64% drop in the past month, and a 3.77% gain in the past quarter. The volatility ratio for the week is 2.18%, and the volatility levels for the past 30 days are at 2.80% for FUN. The simple moving average for the last 20 days is -2.30% for FUN stock, with a simple moving average of 5.29% for the last 200 days.

Analysts’ Opinion of FUN

Many brokerage firms have already submitted their reports for FUN stocks, with Mizuho repeating the rating for FUN by listing it as a “Buy.” The predicted price for FUN in the upcoming period, according to Mizuho is $56 based on the research report published on March 26, 2024 of the current year 2024.

Oppenheimer, on the other hand, stated in their research note that they expect to see FUN reach a price target of $49. The rating they have provided for FUN stocks is “Outperform” according to the report published on February 08th, 2024.

Citigroup gave a rating of “Buy” to FUN, setting the target price at $46 in the report published on November 03rd of the previous year.

FUN Trading at 0.01% from the 50-Day Moving Average

After a stumble in the market that brought FUN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -10.08% of loss for the given period.

Volatility was left at 2.80%, however, over the last 30 days, the volatility rate increased by 2.18%, as shares sank -3.79% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +4.20% upper at present.

During the last 5 trading sessions, FUN rose by +0.15%, which changed the moving average for the period of 200-days by -4.15% in comparison to the 20-day moving average, which settled at $42.19. In addition, Cedar Fair L.P. saw 3.77% in overturn over a single year, with a tendency to cut further gains.

Stock Fundamentals for FUN

Current profitability levels for the company are sitting at:

  • 0.18 for the present operating margin
  • 0.79 for the gross margin

The net margin for Cedar Fair L.P. stands at 0.07. The total capital return value is set at 0.18.

Based on Cedar Fair L.P. (FUN), the company’s capital structure generated 1.35 points at debt to capital in total, while cash flow to debt ratio is standing at 0.14. The debt to equity ratio resting at -3.89. The interest coverage ratio of the stock is 2.34.

Currently, EBITDA for the company is 504.51 million with net debt to EBITDA at 4.58. When we switch over and look at the enterprise to sales, we see a ratio of 2.45. The receivables turnover for the company is 22.62for trailing twelve months and the total asset turnover is 0.79. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.52.

Conclusion

In conclusion, Cedar Fair L.P. (FUN) has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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