IMAX (NYSE:IMAX) Upgraded 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 morning.

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

IMAX Price Performance

Shares of IMAX opened at $26.80 on Wednesday. IMAX has a one year low of $14.94 and a one year high of $27.77. The company has a market cap of $1.42 billion, a P/E ratio of 54.68, a P/E/G ratio of 1.49 and a beta of 1.22. The firm has a 50 day simple moving average of $24.83 and a two-hundred day simple moving average of $23.63.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 8.60% and a net margin of 7.40%. On average, analysts expect that IMAX will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of IMAX

A number of institutional investors have recently bought and sold shares of IMAX. Blue Trust Inc. boosted its position in 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 acquiring an additional 561 shares during the last quarter. Huntington National Bank bought a new position in shares of IMAX during the 3rd quarter worth about $34,000. Quarry LP boosted its position 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 in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of IMAX by 415.4% during 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 in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of IMAX during the 3rd quarter worth about $205,000. Institutional investors 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.