StockNews.com Downgrades IMAX (NYSE:IMAX) to Hold

StockNews.com cut shares of IMAX (NYSE:IMAX - Free Report) from a buy rating to a hold rating in a research report report published on Thursday morning.

A number of other research firms also recently weighed in on IMAX. Rosenblatt Securities raised their price target on shares of IMAX from $28.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Wells Fargo & Company boosted their target price on shares of IMAX from $26.00 to $32.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Benchmark restated a "buy" rating and issued a $30.00 target price on shares of IMAX in a research note on Thursday, February 20th. Wedbush reiterated an "outperform" rating and issued a $32.00 price target on shares of IMAX in a research note on Thursday, February 20th. Finally, Macquarie boosted their price objective on IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Two investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.67.

Remove Ads

IMAX Trading Down 3.5 %

IMAX stock traded down $0.95 during trading on Thursday, reaching $26.08. The stock had a trading volume of 1,041,805 shares, compared to its average volume of 719,400. The firm has a fifty day moving average price of $25.23 and a 200 day moving average price of $23.87. The company has a market capitalization of $1.38 billion, a P/E ratio of 53.23, a PEG ratio of 1.49 and a beta of 1.22. IMAX has a 1-year low of $14.94 and a 1-year high of $27.77.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a return on equity of 8.60% and a net margin of 7.40%. The business had revenue of $92.67 million during the quarter, compared to analyst estimates of $104.08 million. Sell-side analysts predict that IMAX will post 0.91 EPS for the current year.

Institutional Trading of IMAX

Several hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after buying an additional 561 shares during the period. Quarry LP grew its position in shares of IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company's stock worth $48,000 after acquiring an additional 2,350 shares during the last quarter. Tower Research Capital LLC TRC grew its position 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 acquiring an additional 5,832 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of IMAX in the 3rd quarter worth about $205,000. Finally, Wealthfront Advisers LLC acquired a new position in IMAX during the 4th quarter valued at about $217,000. Institutional investors own 93.51% of the company's stock.

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.