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

IMAX (NYSE:IMAX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. raised 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 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. Macquarie lifted their price target on IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Barrington Research lifted their price target on IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, Rosenblatt Securities increased their price target on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, IMAX presently has an average rating of “Buy” and a consensus target price of $30.67.

IMAX Price Performance

Shares of IMAX stock traded up $1.63 during trading hours on Wednesday, reaching $25.97. 1,524,776 shares of the company’s stock were exchanged, compared to its average volume of 700,110. IMAX has a 1 year low of $14.94 and a 1 year high of $27.77. The company has a market cap of $1.38 billion, a P/E ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The company’s 50 day moving average is $24.69 and its two-hundred day moving average is $23.57.

IMAX (NYSE:IMAX) last announced 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). The company had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. As a group, analysts predict that IMAX will post 0.91 EPS for the current fiscal year.

Institutional Trading of IMAX

A number of hedge funds have recently made changes to their positions in IMAX. Blue Trust Inc. lifted its position in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after buying an additional 561 shares in the last quarter. Huntington National Bank acquired a new position in shares of IMAX during the 3rd quarter worth $34,000. Quarry LP increased its stake in shares of 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 during the last quarter. Tower Research Capital LLC TRC grew its stake in 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 last quarter. Finally, Intech Investment Management LLC acquired a new position in IMAX in the 3rd quarter valued at $205,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.