Cineplex (TSE:CGX) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Cineplex Inc. (TSE:CGX)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.84 and traded as high as C$11.74. Cineplex shares last traded at C$11.57, with a volume of 227,998 shares trading hands.

Analysts Set New Price Targets

CGX has been the topic of a number of analyst reports. Canaccord Genuity Group downgraded Cineplex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Scotiabank lifted their price target on Cineplex from C$12.00 to C$12.75 and gave the company an “outperform” rating in a research note on Wednesday, August 13th. Finally, National Bankshares decreased their price target on Cineplex from C$13.50 to C$13.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Cineplex presently has an average rating of “Moderate Buy” and an average target price of C$12.55.

Cineplex Stock Performance

The stock has a 50-day simple moving average of C$11.45 and a 200 day simple moving average of C$10.84. The company has a debt-to-equity ratio of -4,623.78, a current ratio of 0.43 and a quick ratio of 0.22. The company has a market capitalization of C$734.00 million, a PE ratio of -12.18, a P/E/G ratio of 0.30 and a beta of 0.49.

About Cineplex

Cineplex is a diversified media company that operates chains of movie theaters. The company has four reporting segments: film entertainment and content; media; amusement and leisure; and location-based entertainment. The film entertainment and content segment includes revenue from theater attendance.