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

Cineplex Inc. (TSE:CGX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$11.28 and traded as high as C$12.36. Cineplex shares last traded at C$11.89, with a volume of 646,830 shares traded.

Analysts Set New Price Targets

CGX has been the subject of a number of analyst reports. BMO Capital Markets boosted their price target on Cineplex from C$13.00 to C$14.00 in a research report on Friday, October 17th. Canaccord Genuity Group boosted their target price on Cineplex from C$11.00 to C$13.00 in a report 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 report on Wednesday, October 29th. Scotiabank lifted their price target on shares of Cineplex from C$12.00 to C$12.75 and gave the company an “outperform” rating in a research report on Wednesday, August 13th. Finally, National Bankshares reduced their price objective on shares of 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. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Cineplex currently has an average rating of “Moderate Buy” and a consensus target price of C$13.35.

Cineplex Trading Down 5.3%

The company has a market capitalization of C$754.30 million, a P/E ratio of -12.52, a P/E/G ratio of 0.30 and a beta of 0.52. The company has a 50-day simple moving average of C$11.99 and a 200 day simple moving average of C$11.28. 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.

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.