Canaccord Genuity Group Forecasts Strong Price Appreciation for Cineplex (TSE:CGX) Stock

Cineplex (TSE:CGX) had its price target boosted by stock analysts at Canaccord Genuity Group from C$11.50 to C$12.50 in a report released on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 10.13% from the stock’s current price.

Separately, Canaccord Genuity Group raised their target price on Cineplex from C$11.50 to C$12.00 in a research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$17.94.

Cineplex Price Performance

Shares of CGX traded down C$0.01 during midday trading on Thursday, hitting C$11.35. The company’s stock had a trading volume of 115,010 shares, compared to its average volume of 201,011. The company’s fifty day simple moving average is C$11.60 and its two-hundred day simple moving average is C$10.50. The stock has a market capitalization of C$722.77 million, a price-to-earnings ratio of -10.13, a price-to-earnings-growth ratio of 0.30 and a beta of 2.74. The company has a quick ratio of 0.22, a current ratio of 0.36 and a debt-to-equity ratio of 30,533.69. Cineplex has a one year low of C$7.10 and a one year high of C$13.09.

Insider Activity

In other news, Director Ellis Jacob sold 29,874 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$10.02, for a total value of C$299,337.48. In the last 90 days, insiders sold 33,615 shares of company stock worth $340,197. 1.85% of the stock is currently owned by insiders.

About Cineplex

Cineplex Inc, together with its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Location-Based Entertainment. The company engages in theatre exhibitions and food service activities; and provision of alternative programming service comprising international film programming, as well as content offered under the Event Cinema brand, including The Metropolitan Opera, sporting events, concerts, and dedicated event screens.