IMAX (NYSE:IMAX) Cut to “Hold” at StockNews.com

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

Other equities analysts also recently issued reports about the stock. Benchmark restated a “buy” rating and set a $30.00 target price on shares of IMAX in a report on Thursday, February 20th. Wells Fargo & Company raised their price target on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Wedbush reissued an “outperform” rating and issued a $32.00 target price on shares of IMAX in a research report on Thursday, February 20th. Rosenblatt Securities raised their price target on shares of IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.67.

IMAX Price Performance

Shares of NYSE:IMAX opened at $24.75 on Tuesday. The stock has a market cap of $1.31 billion, a P/E ratio of 50.51, a P/E/G ratio of 1.49 and a beta of 1.22. The firm has a fifty day moving average price of $24.73 and a 200 day moving average price of $23.43. IMAX has a 1-year low of $14.94 and a 1-year high of $27.77.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The firm 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%. Sell-side analysts expect that IMAX will post 0.91 EPS for the current fiscal year.

Institutional Trading of IMAX

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. increased its stake in shares of IMAX by 191.6% in the fourth quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company’s stock worth $5,236,000 after buying an additional 134,389 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of IMAX by 87.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,978 shares of the company’s stock worth $3,788,000 after buying an additional 68,957 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of IMAX in the fourth quarter worth $999,000. Two Sigma Investments LP bought a new stake in shares of IMAX in the fourth quarter worth $2,411,000. Finally, State of Wyoming boosted its holdings in IMAX by 184.6% in the fourth quarter. State of Wyoming now owns 21,606 shares of the company’s stock worth $553,000 after purchasing an additional 14,014 shares during the period. Institutional investors 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.