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

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

Several other analysts have also recently weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of IMAX in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Macquarie increased their price target on shares of IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company boosted their price objective 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. Finally, Wedbush reiterated an “outperform” rating and set a $32.00 target price on shares of IMAX in a report 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 company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $30.67.

IMAX Stock Performance

NYSE IMAX opened at $26.48 on Wednesday. IMAX has a fifty-two week low of $14.94 and a fifty-two week high of $27.77. The stock has a market cap of $1.40 billion, a P/E ratio of 54.04, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The stock has a 50 day simple moving average of $24.75 and a two-hundred day simple moving average of $23.59.

IMAX (NYSE:IMAX) last released 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). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The company had revenue of $92.67 million during the quarter, compared to the consensus estimate of $104.08 million. Sell-side analysts predict that IMAX will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On IMAX

Several institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in shares of IMAX by 138.5% during 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 during the last quarter. Huntington National Bank purchased a new stake in IMAX in the third quarter worth approximately $34,000. Quarry LP grew its position in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after purchasing an additional 2,350 shares during the period. 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 buying an additional 5,832 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of IMAX during the 3rd quarter valued at $205,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.