IMAX (NYSE:IMAX) Trading Down 8.6% - Should You Sell?

IMAX Co. (NYSE:IMAX - Get Free Report) traded down 8.6% during trading on Tuesday . The stock traded as low as $22.45 and last traded at $22.38. 1,660,804 shares traded hands during trading, an increase of 127% from the average session volume of 730,249 shares. The stock had previously closed at $24.47.

Analysts Set New Price Targets

IMAX has been the subject of several research analyst reports. Macquarie increased their price objective on shares of IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Rosenblatt Securities reiterated a "buy" rating and set a $35.00 price target on shares of IMAX in a research report on Thursday. Wedbush restated an "outperform" rating and issued a $32.00 price target on shares of IMAX in a research note on Thursday, February 20th. Wells Fargo & Company upped their price target 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. Finally, Barrington Research raised their price target on shares of IMAX from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.56.

IMAX Price Performance

The company's 50 day simple moving average is $25.36 and its 200 day simple moving average is $24.15. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 43.85, a P/E/G ratio of 1.49 and a beta of 0.91.

IMAX (NYSE:IMAX - Get Free Report) 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 company 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%. As a group, analysts forecast that IMAX Co. will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew 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. Tower Research Capital LLC TRC increased its holdings in shares of IMAX by 415.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company's stock valued at $185,000 after acquiring an additional 5,832 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of IMAX during the 4th quarter worth about $217,000. Cornerstone Investment Partners LLC purchased a new stake in IMAX during the fourth quarter worth approximately $248,000. Finally, Savant Capital LLC purchased a new stake in shares of IMAX during the 4th quarter worth approximately $249,000. Institutional investors and hedge funds 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.