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

StockNews.com upgraded shares of IMAX (NYSE:IMAX) from a hold rating to a buy rating in a research note published on Monday.

A number of other research analysts have also weighed in on IMAX. Barrington Research raised their price objective on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. upped their price target on shares of IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Macquarie upped 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. Rosenblatt Securities lifted their target price on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company lifted their target price on IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $30.67.

IMAX Stock Down 2.3 %

IMAX stock opened at $25.00 on Monday. The business has a 50-day simple moving average of $24.76 and a two-hundred day simple moving average of $23.28. IMAX has a 52-week low of $14.94 and a 52-week high of $27.77. The company has a market cap of $1.33 billion, a P/E ratio of 51.02, a P/E/G ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last issued its quarterly 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). The business had revenue of $92.67 million for the quarter, compared to analysts’ expectations of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. Research analysts anticipate that IMAX will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at IMAX

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the sale, the executive vice president now directly owns 138,889 shares of the company’s stock, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.52, for a total value of $75,462.64. Following the transaction, the chief financial officer now owns 14,883 shares of the company’s stock, valued at $379,814.16. The trade was a 16.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IMAX

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in shares of IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares in the last quarter. Huntington National Bank purchased a new stake in shares of IMAX during the third quarter worth approximately $34,000. Quarry LP raised its stake in IMAX by 78,333.3% in 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 during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of IMAX by 415.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock worth $185,000 after buying an additional 5,832 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after buying an additional 1,452 shares during the last quarter. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.