IMAX (NYSE:IMAX) Stock Rating Lowered by StockNews.com

IMAX (NYSE:IMAX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Other analysts have also recently issued research reports about the stock. Wedbush restated an “outperform” rating on shares of IMAX in a research report on Wednesday, November 27th. Rosenblatt Securities restated a “buy” rating and issued a $28.00 price target on shares of IMAX in a report on Thursday, October 31st. Barrington Research reiterated an “outperform” rating and set a $30.00 price objective on shares of IMAX in a report on Friday, January 10th. JPMorgan Chase & Co. increased their target price on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Roth Mkm raised their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.38.

IMAX Trading Down 1.0 %

IMAX stock opened at $22.80 on Tuesday. The firm has a market capitalization of $1.20 billion, a P/E ratio of 51.82, a PEG ratio of 1.69 and a beta of 1.24. The business has a 50-day moving average of $24.98 and a 200-day moving average of $21.78. IMAX has a 1 year low of $13.20 and a 1 year high of $26.84.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $93.71 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. Research analysts anticipate that IMAX will post 0.77 EPS for the current fiscal year.

Insider Buying and Selling at IMAX

In related news, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the transaction, the insider now owns 25,139 shares in the company, valued at approximately $641,295.89. This trade represents a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the transaction, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,176 shares of company stock worth $1,662,110. Corporate insiders own 24.08% of the company’s stock.

Institutional Trading of IMAX

A number of hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC acquired a new position in IMAX in the 3rd quarter valued at $6,322,000. Public Employees Retirement System of Ohio bought a new position in shares of IMAX in the 3rd quarter valued at $1,555,000. Pier Capital LLC acquired a new position in IMAX during the third quarter worth about $4,221,000. Castleark Management LLC acquired a new position in IMAX during the 3rd quarter worth approximately $5,199,000. Finally, Systematic Financial Management LP acquired a new position in shares of IMAX during the third quarter worth $838,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.