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IMAX (NYSE:IMAX) Rating Increased to Buy at StockNews.com

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IMAX (NYSE:IMAX - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Thursday.

Several other brokerages have also weighed in on IMAX. Benchmark increased their target price on IMAX from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Roth Mkm increased their price objective on shares of IMAX from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of IMAX from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. Wedbush restated an "outperform" rating on shares of IMAX in a research note on Wednesday, November 27th. Finally, Barrington Research reiterated an "outperform" rating and set a $24.00 price objective on shares of IMAX in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has issued 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 has a consensus rating of "Moderate Buy" and an average price target of $25.11.

Get Our Latest Stock Analysis on IMAX

IMAX Stock Performance

Shares of IMAX stock traded down $0.49 during trading hours on Thursday, reaching $25.11. The company's stock had a trading volume of 366,873 shares, compared to its average volume of 741,711. IMAX has a one year low of $13.20 and a one year high of $26.84. The company's 50 day simple moving average is $24.70 and its 200 day simple moving average is $21.30. The stock has a market cap of $1.32 billion, a P/E ratio of 57.07, a price-to-earnings-growth ratio of 1.69 and a beta of 1.23.

IMAX (NYSE:IMAX - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.12. The company had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. IMAX's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, sell-side analysts predict that IMAX will post 0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the transaction, the insider now owns 25,139 shares in the company, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the company's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the transaction, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. This represents a 28.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock worth $1,662,110 over the last ninety days. Company insiders own 24.08% of the company's stock.

Institutional Investors Weigh In On IMAX

Large investors have recently modified their holdings of the stock. Huntington National Bank acquired a new stake in shares of IMAX during the third quarter valued at approximately $34,000. Headlands Technologies LLC purchased a new position in IMAX during the 2nd quarter worth approximately $35,000. Quarry LP raised its stake in IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company's stock valued at $48,000 after purchasing an additional 2,350 shares during the period. nVerses Capital LLC purchased a new stake in shares of IMAX in the third quarter valued at $70,000. Finally, US Bancorp DE boosted its position in shares of IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company's stock worth $157,000 after buying an additional 1,452 shares during the period. 93.51% of the stock is owned by institutional investors.

About IMAX

(Get Free Report)

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.

Further Reading

Analyst Recommendations for IMAX (NYSE:IMAX)

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