IMAX (NYSE:IMAX) Downgraded by StockNews.com to “Hold”

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

Other research analysts have also issued research reports about the stock. Macquarie upped their price objective on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Barrington Research upped 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. JPMorgan Chase & Co. lifted their price objective on IMAX from $25.00 to $27.00 and gave the company 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 stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Rosenblatt Securities lifted their price target on IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.67.

IMAX Stock Down 3.5 %

Shares of NYSE IMAX opened at $26.08 on Thursday. IMAX has a 12 month low of $14.94 and a 12 month high of $27.77. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 53.23, a P/E/G ratio of 1.49 and a beta of 1.22. The business has a fifty day simple moving average of $25.23 and a 200-day simple moving average of $23.84.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) 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, sell-side analysts expect that IMAX will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IMAX. Janney Montgomery Scott LLC raised its stake in IMAX by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock worth $747,000 after buying an additional 533 shares during the period. Blue Trust Inc. increased its holdings in shares of IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after acquiring an additional 561 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of IMAX by 3.4% in the fourth quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock worth $664,000 after acquiring an additional 848 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of IMAX by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,395 shares of the company’s stock worth $625,000 after purchasing an additional 905 shares during the period. Finally, State of Tennessee Department of Treasury lifted its holdings in shares of IMAX by 19.8% during the 4th quarter. State of Tennessee Department of Treasury now owns 9,827 shares of the company’s stock valued at $252,000 after purchasing an additional 1,627 shares in the last quarter. 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.