IMAX (NYSE:IMAX) Upgraded by StockNews.com to “Buy” Rating

IMAX (NYSE:IMAX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

IMAX has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Rosenblatt Securities increased their price objective on shares of IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Wedbush restated an “outperform” rating and set a $32.00 target price on shares of IMAX in a report on Thursday, February 20th. Barrington Research increased their target price on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Macquarie increased their price target on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $30.67.

IMAX Price Performance

Shares of IMAX stock traded up $1.63 during trading on Wednesday, hitting $25.97. 1,524,776 shares of the company’s stock traded hands, compared to its average volume of 700,110. The company has a market cap of $1.38 billion, a PE ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.22. IMAX has a twelve month low of $14.94 and a twelve month high of $27.77. The firm’s fifty day moving average price is $24.69 and its 200 day moving average price is $23.57.

IMAX (NYSE:IMAX) last announced its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). IMAX had a return on equity of 8.60% and a net margin of 7.40%. The company had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. As a group, equities research analysts anticipate that IMAX will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. increased its stake 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 acquiring an additional 561 shares in the last quarter. Huntington National Bank bought a new stake in IMAX during the 3rd quarter valued at $34,000. Quarry LP increased 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 purchasing an additional 2,350 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of IMAX by 415.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock worth $185,000 after acquiring an additional 5,832 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of IMAX in the 3rd quarter worth $205,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

About IMAX

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.