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

Cineplex (TSE:CGX) had its price target upped by stock analysts at Canaccord Genuity Group from C$12.50 to C$14.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 22.70% from the company’s current price.

Separately, Canaccord Genuity Group upped their price objective on shares of Cineplex from C$11.50 to C$12.00 in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.93.

Cineplex Trading Up 6.9 %

Shares of TSE:CGX traded up C$0.74 during trading on Wednesday, reaching C$11.41. The stock had a trading volume of 964,984 shares, compared to its average volume of 261,808. The firm’s fifty day moving average is C$11.80 and its 200 day moving average is C$10.83. The company has a debt-to-equity ratio of 30,533.69, a quick ratio of 0.22 and a current ratio of 0.36. Cineplex has a 52 week low of C$7.10 and a 52 week high of C$13.09. The stock has a market cap of C$726.59 million, a price-to-earnings ratio of -10.19, a P/E/G ratio of 0.30 and a beta of 2.74.

Insider Activity

In other news, Director Ellis Jacob sold 29,874 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$10.02, for a total value of C$299,337.48. Insiders sold a total of 33,615 shares of company stock worth $340,197 over the last quarter. Insiders own 1.85% of the company’s stock.

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.