IMAX (NYSE:IMAX) Stock Rating Lowered by StockNews.com

IMAX (NYSE:IMAX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also weighed in on IMAX. JPMorgan Chase & Co. raised their price target on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Roth Mkm boosted their target price on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barrington Research reiterated an “outperform” rating and issued a $24.00 price target on shares of IMAX in a report on Thursday, October 31st. Wedbush reissued an “outperform” rating on shares of IMAX in a report on Wednesday. Finally, Rosenblatt Securities restated a “buy” rating and set a $28.00 target price on shares of IMAX in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, IMAX presently has an average rating of “Moderate Buy” and an average target price of $24.22.

IMAX Price Performance

Shares of IMAX traded up $0.27 during trading hours on Friday, hitting $26.30. The stock had a trading volume of 613,089 shares, compared to its average volume of 760,237. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 59.77, a P/E/G ratio of 1.66 and a beta of 1.22. The company’s fifty day moving average is $22.18 and its two-hundred day moving average is $19.74. IMAX has a 52 week low of $13.20 and a 52 week high of $26.54.

IMAX (NYSE:IMAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.23 by $0.12. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The business had revenue of $91.50 million for the quarter, compared to the consensus estimate of $93.71 million. During the same period in the previous year, the business earned $0.27 EPS. IMAX’s revenue was down 11.9% compared to the same quarter last year. Equities analysts predict that IMAX will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Huntington National Bank acquired a new position in IMAX during the third quarter worth $34,000. Headlands Technologies LLC acquired a new position in shares of IMAX during the 2nd quarter worth about $35,000. Quarry LP grew 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 acquiring an additional 2,350 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of IMAX in the third quarter valued at about $70,000. Finally, Summit Securities Group LLC bought a new stake in IMAX during the second quarter worth about $80,000. 93.51% of the stock is owned by institutional investors and hedge funds.

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.