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

StockNews.com downgraded shares of IMAX (NYSE:IMAX - Free Report) from a buy rating to a hold rating in a research note published on Tuesday.

Several other research analysts also recently issued reports on the stock. Macquarie upped their target price 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. Wedbush reiterated an "outperform" rating and issued a $32.00 target price on shares of IMAX in a research note on Thursday, February 20th. Rosenblatt Securities upped their target price on shares of IMAX from $28.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Benchmark reiterated a "buy" rating and issued a $30.00 target price on shares of IMAX in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of IMAX from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Two 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. According to MarketBeat, IMAX presently has a consensus rating of "Moderate Buy" and an average price target of $30.67.

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IMAX Price Performance

IMAX stock traded down $0.58 during mid-day trading on Tuesday, hitting $24.21. The company's stock had a trading volume of 745,796 shares, compared to its average volume of 727,182. The business has a 50 day moving average price of $24.70 and a 200-day moving average price of $23.45. IMAX has a 12 month low of $14.94 and a 12 month high of $27.77. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 49.40, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings data 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 net margin of 7.40% and a return on equity of 8.60%. The firm had revenue of $92.67 million during the quarter, compared to analysts' expectations of $104.08 million. On average, equities research analysts expect that IMAX will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IMAX

Several institutional investors have recently made changes to their positions in the company. Polar Asset Management Partners Inc. lifted its holdings in shares of IMAX by 191.6% in the 4th quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company's stock worth $5,236,000 after acquiring an additional 134,389 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of IMAX by 87.3% in the 4th 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 acquiring an additional 68,957 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of IMAX in the 4th quarter worth about $999,000. Two Sigma Investments LP bought a new stake in shares of IMAX in the 4th quarter worth about $2,411,000. Finally, State of Wyoming lifted its holdings in shares of IMAX by 184.6% in the 4th quarter. State of Wyoming now owns 21,606 shares of the company's stock worth $553,000 after acquiring an additional 14,014 shares during the last quarter. 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.