IMAX (NYSE:IMAX) Stock Price Up 5.6% – Time to Buy?

IMAX Co. (NYSE:IMAX) shares traded up 5.6% during trading on Wednesday . The stock traded as high as $25.46 and last traded at $25.71. 271,796 shares traded hands during trading, a decline of 61% from the average session volume of 695,365 shares. The stock had previously closed at $24.34.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wedbush reissued an “outperform” rating and set a $32.00 target price on shares of IMAX in a research note on Thursday, February 20th. Barrington Research boosted their target price on IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Macquarie boosted their target price on IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Rosenblatt Securities boosted their target price on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

IMAX Stock Performance

The company has a 50-day moving average price of $24.65 and a 200-day moving average price of $23.55. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 53.44, a PEG ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last posted its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The firm had revenue of $92.67 million during the quarter, compared to analysts’ expectations of $104.08 million. On average, research analysts expect that IMAX Co. will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of IMAX

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after purchasing an additional 561 shares during the last quarter. Huntington National Bank purchased a new stake in IMAX during the 3rd quarter valued at approximately $34,000. Quarry LP raised its stake in IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after acquiring an additional 2,350 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in IMAX by 415.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock valued at $185,000 after acquiring an additional 5,832 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in IMAX during the 4th quarter valued at approximately $217,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX Company Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.