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Downgrade Alert for Regal Entertainment Group (RGC)

By James Quinn

Regal Entertainment Group (NYSE:RGC) was downgraded from Outperform to Sector Perform at RBC Capital today. The stock closed yesterday at $23.11 on volume of 1.4 million shares, above average daily volume of 1.2 million.

Regal Entertainment Group consists of the controlling interest in United Artists Theater Company, Edwards Theaters, Inc., Regal Cinemas Corporation, and their subsidiaries. The Group operates a chain of theaters in the United States under the Regal Cinemas, Edwards Theaters, and United Artists Theaters.

Based on a current price of $23.11, Regal Entertainment Group is currently 5.7% above its average consensus analyst price target of $21.80. Regal Entertainment Group shares have support at the 50-day moving average (MA) of $20.78 and additional support at the 200-day MA of $19.23.

In the past 52 weeks, shares of Regal Entertainment Group have traded between a low of $16.50 and a high of $23.23 and closed yesterday at $23.11, which is 40% above that low price. The 200-day and 50-day moving averages have moved 0.12% higher and 0.68% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Regal Entertainment Group on June 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.78. Since that recommendation, shares of Regal Entertainment Group have risen 5.1%. We continue to monitor RGC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades regal entertainment group

Ticker(s): RGC