IMAX (NYSE:IMAX) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of IMAX (NYSE:IMAX) from a hold rating to a buy rating in a research report released on Wednesday.

Several other equities analysts have also issued reports on the stock. Rosenblatt Securities boosted their target price on shares of IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price objective on IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Wells Fargo & Company upped their target price on IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Macquarie boosted their price target on IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Wedbush reaffirmed an “outperform” rating and set a $32.00 price objective on shares of IMAX in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, IMAX currently has a consensus rating of “Buy” and a consensus price target of $30.67.

IMAX Trading Up 6.7 %

NYSE IMAX opened at $25.97 on Wednesday. The firm has a market capitalization of $1.38 billion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The business’s 50-day moving average price is $24.69 and its two-hundred day moving average price is $23.57. IMAX has a 12 month low of $14.94 and a 12 month high of $27.77.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share 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 for the quarter, compared to analyst estimates of $104.08 million. As a group, analysts forecast that IMAX will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IMAX. Blue Trust Inc. grew its holdings in shares of IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after buying an additional 561 shares during the last quarter. Huntington National Bank acquired a new position in IMAX during the 3rd quarter valued at about $34,000. Quarry LP increased its holdings in IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after purchasing an additional 2,350 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of IMAX by 415.4% in the fourth 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 shares of IMAX in the third quarter valued at approximately $205,000. Institutional investors and hedge funds 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.