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

StockNews.com lowered shares of IMAX (NYSE:IMAX) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

A number of other research firms also recently issued reports on IMAX. JPMorgan Chase & Co. raised their price target on shares of IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of IMAX in a research note on Thursday, February 20th. Wells Fargo & Company increased their price target on IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Wedbush restated an “outperform” rating and set a $32.00 price objective on shares of IMAX in a research report on Thursday, February 20th. Finally, Rosenblatt Securities increased their target price on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, IMAX currently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

IMAX Stock Down 1.2 %

Shares of IMAX stock opened at $27.05 on Thursday. The business has a 50-day moving average price of $25.18 and a 200 day moving average price of $23.79. IMAX has a fifty-two week low of $14.94 and a fifty-two week high of $27.77. The firm has a market cap of $1.43 billion, a P/E ratio of 55.20, a P/E/G ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $104.08 million. As a group, equities research analysts anticipate that IMAX will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares during the period. Quarry LP boosted its stake in IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after buying an additional 2,350 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in IMAX by 415.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock worth $185,000 after acquiring an additional 5,832 shares during the period. Wealthfront Advisers LLC bought a new stake in IMAX in the fourth quarter worth about $217,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in IMAX in the 4th quarter valued at about $248,000. 93.51% of the stock is currently owned by 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.