Cineplex (TSE:CGX) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of Cineplex Inc. (TSE:CGX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$11.16 and traded as high as C$12.60. Cineplex shares last traded at C$12.51, with a volume of 188,754 shares trading hands.

Analyst Upgrades and Downgrades

CGX has been the subject of a number of analyst reports. Scotiabank raised 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. BMO Capital Markets lifted their target price on Cineplex from C$13.00 to C$14.00 in a research note on Friday, October 17th. Royal Bank Of Canada set a C$14.00 target price on Cineplex and gave the stock an “outperform” rating in a research note on Wednesday. National Bankshares reduced their target price on Cineplex from C$13.50 to C$13.00 and set an “outperform” rating for the company in a research note on Tuesday, September 30th. Finally, Canaccord Genuity Group lifted their target price on Cineplex from C$11.00 to C$13.00 in a research note on Friday, October 17th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$13.35.

Cineplex Stock Performance

The firm has a market capitalization of C$793.63 million, a price-to-earnings ratio of -13.17, a PEG ratio of 0.30 and a beta of 0.51. The company has a fifty day moving average of C$11.86 and a two-hundred day moving average of C$11.16. The company has a debt-to-equity ratio of -4,623.78, a quick ratio of 0.22 and a current ratio of 0.43.

Cineplex Company Profile

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.