AMC Entertainment (NYSE:AMC) Upgraded at Zacks Research

AMC Entertainment (NYSE:AMC) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

AMC has been the subject of several other research reports. Weiss Ratings upgraded shares of AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. Wedbush reaffirmed an “outperform” rating and set a $4.00 price objective (up from $3.00) on shares of AMC Entertainment in a report on Tuesday, July 21st. Citigroup reaffirmed a “sell” rating and set a $2.20 price objective (up from $1.80) on shares of AMC Entertainment in a report on Friday, September 25th. Needham & Company LLC set a $3.50 target price on AMC Entertainment in a research report on Tuesday, July 21st. Finally, B. Riley Financial reissued a “neutral” rating and issued a $2.50 target price (up from $2.25) on shares of AMC Entertainment in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, AMC Entertainment has a consensus rating of “Moderate Buy” and an average price target of $2.67.

AMC Entertainment Stock Performance

Shares of AMC Entertainment stock opened at $2.88 on Tuesday. The company has a fifty day simple moving average of $2.69 and a 200-day simple moving average of $2.15. AMC Entertainment has a 12-month low of $0.93 and a 12-month high of $3.40.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Monday, July 20th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Equities research analysts forecast that AMC Entertainment will post -0.21 earnings per share for the current year.

Hedge Funds Weigh In On AMC Entertainment

A number of hedge funds have recently modified their holdings of the business. Readystate Asset Management LP acquired a new position in shares of AMC Entertainment in the 2nd quarter valued at $8,343,000. Fund 1 Investments LLC acquired a new stake in AMC Entertainment during the 2nd quarter worth $4,192,000. Headlands Technologies LLC acquired a new stake in AMC Entertainment during the 2nd quarter worth $1,643,000. Bank of America Corp DE boosted its stake in AMC Entertainment by 34.3% during the 1st quarter. Bank of America Corp DE now owns 543,857 shares of the company’s stock worth $533,000 after purchasing an additional 138,853 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in AMC Entertainment during the 2nd quarter worth $969,000. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

About AMC Entertainment

AMC Entertainment Holdings, Inc operates one of the world’s largest movie-theater businesses under the AMC Theatres and Odeon brands. The company exhibits first-run films and provides audiences with entertainment experiences that include standard screenings, premium formats such as IMAX and Dolby Cinema, and special or alternative programming.

In addition to ticket sales, AMC generates revenue through food and beverage concessions, including expanded menu options and in-theater dining at selected locations.