IMAX (NYSE:IMAX) Stock Price Up 5.6% – Time to Buy?

IMAX Co. (NYSE:IMAX)’s stock price was up 5.6% during mid-day trading on Wednesday . The company traded as high as $25.46 and last traded at $25.71. Approximately 271,796 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 695,365 shares. The stock had previously closed at $24.34.

Analyst Ratings Changes

A number of analysts have recently issued reports on IMAX shares. StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Wells Fargo & Company lifted their price target on IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Rosenblatt Securities lifted their price target on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and issued a $32.00 price target on shares of IMAX in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. lifted their price target on IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Two investment 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 has an average rating of “Moderate Buy” and a consensus price target of $30.67.

IMAX Stock Up 7.1 %

The company has a market cap of $1.38 billion, a PE ratio of 53.44, a P/E/G ratio of 1.49 and a beta of 1.22. The stock has a 50-day simple moving average of $24.65 and a 200 day simple moving average of $23.55.

IMAX (NYSE:IMAX) last posted its earnings results on Wednesday, February 19th. The company reported $0.17 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 business had revenue of $92.67 million during the quarter, compared to analysts’ expectations of $104.08 million. As a group, research analysts anticipate that IMAX Co. will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IMAX

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of IMAX by 138.5% in 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 during the period. Huntington National Bank purchased a new stake in shares of IMAX in the 3rd quarter valued at $34,000. Quarry LP raised its holdings in shares of IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after buying an additional 2,350 shares during the period. Tower Research Capital LLC TRC raised 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 buying an additional 5,832 shares during the period. Finally, Wealthfront Advisers LLC purchased a new stake in shares of IMAX in the 4th quarter valued at $217,000. Hedge funds and other 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.