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

IMAX (NYSE:IMAX - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Wednesday.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. upped their price objective on shares of IMAX from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. Wedbush reiterated an "outperform" rating and issued a $32.00 price objective on shares of IMAX in a research report on Thursday, February 20th. Macquarie boosted their target price on IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Benchmark reaffirmed a "buy" rating and issued a $30.00 price target on shares of IMAX in a research note on Thursday, February 20th. Finally, Barrington Research boosted their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, IMAX currently has a consensus rating of "Buy" and a consensus price target of $30.67.

Remove Ads

IMAX Trading Up 1.2 %

Shares of IMAX traded up $0.31 during mid-day trading on Wednesday, reaching $26.80. The company's stock had a trading volume of 1,073,427 shares, compared to its average volume of 703,948. IMAX has a 52 week low of $14.94 and a 52 week high of $27.77. The company's fifty day moving average price is $24.83 and its two-hundred day moving average price is $23.66. The stock has a market cap of $1.42 billion, a PE ratio of 54.68, a P/E/G ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX - Get Free Report) last posted 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 business had revenue of $92.67 million during the quarter, compared to the consensus estimate of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. Research analysts anticipate that IMAX will post 0.91 EPS for the current year.

Hedge Funds Weigh In On IMAX

A number of institutional investors and hedge funds have recently made changes to their positions in IMAX. Blue Trust Inc. increased its position in 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 buying an additional 561 shares in the last quarter. Huntington National Bank purchased a new stake in shares of IMAX in the third quarter worth $34,000. Quarry LP increased its holdings in shares of IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company's stock valued at $48,000 after acquiring an additional 2,350 shares in the last quarter. Tower Research Capital LLC TRC raised its position 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 worth $185,000 after purchasing an additional 5,832 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in IMAX in the 3rd quarter worth about $205,000. 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.