StockNews.com Upgrades IMAX (NYSE:IMAX) to “Buy”

IMAX (NYSE:IMAX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other equities analysts have also issued reports on IMAX. Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 target price on shares of IMAX in a research report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of IMAX from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Macquarie lifted their target price on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday. Barrington Research restated an “outperform” rating and set a $32.00 price target on shares of IMAX in a research note on Thursday. Finally, Wells Fargo & Company decreased their price target on IMAX from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday. One research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $30.56.

IMAX Price Performance

IMAX stock opened at $23.89 on Friday. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 48.76, a PEG ratio of 1.49 and a beta of 0.91. The company’s fifty day moving average price is $24.70 and its two-hundred day moving average price is $24.34. IMAX has a one year low of $14.94 and a one year high of $27.77.

IMAX (NYSE:IMAX) last posted its quarterly earnings data 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). IMAX had a return on equity of 8.60% and a net margin of 7.40%. The firm had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. As a group, sell-side analysts anticipate that IMAX will post 0.91 earnings per share for the current year.

Institutional Trading of IMAX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in IMAX by 69.3% in the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock worth $2,661,000 after purchasing an additional 42,562 shares during the period. Intech Investment Management LLC increased its holdings in shares of IMAX by 116.1% in the fourth quarter. Intech Investment Management LLC now owns 21,589 shares of the company’s stock worth $553,000 after acquiring an additional 11,597 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of IMAX during the 4th quarter valued at about $9,143,000. Savant Capital LLC acquired a new position in shares of IMAX in the 4th quarter valued at approximately $249,000. Finally, Lord Abbett & CO. LLC bought a new stake in IMAX during the 3rd quarter worth approximately $6,322,000. 93.51% of the stock is 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.