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

Cineplex (TSE:CGX) had its price objective upped by equities researchers at Canaccord Genuity Group from C$11.50 to C$12.50 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 13.84% from the company’s previous close.

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 six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.71.

Cineplex Price Performance

CGX stock opened at C$10.98 on Thursday. Cineplex has a 1 year low of C$7.10 and a 1 year high of C$13.09. The company has a debt-to-equity ratio of 30,533.69, a current ratio of 0.36 and a quick ratio of 0.22. The firm has a market capitalization of C$699.21 million, a PE ratio of -9.80, a price-to-earnings-growth ratio of 0.30 and a beta of 2.74. The business has a 50 day simple moving average of C$11.62 and a 200-day simple moving average of C$10.53.

Insider Buying and Selling

In other Cineplex news, Director Ellis Jacob sold 29,874 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$10.02, for a total value of C$299,337.48. Over the last three months, insiders sold 33,615 shares of company stock worth $340,197. Company insiders own 1.85% of the company’s stock.

Cineplex Company Profile

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.