IMAX (NYSE:IMAX) Rating Increased to Buy at StockNews.com

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

IMAX has been the topic of several other research reports. Wedbush reaffirmed an “outperform” rating and set a $32.00 price target on shares of IMAX in a report on Thursday, February 20th. Macquarie lifted their target price on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Benchmark reissued a “buy” rating and set a $30.00 price target on shares of IMAX in a report on Thursday, February 20th. Rosenblatt Securities upped their price objective on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Barrington Research lifted their target price on IMAX from $30.00 to $32.00 and gave the company an “outperform” 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $30.67.

IMAX Price Performance

Shares of IMAX stock opened at $26.48 on Wednesday. The stock has a market capitalization of $1.40 billion, a PE ratio of 54.04, a P/E/G ratio of 1.49 and a beta of 1.22. IMAX has a 1-year low of $14.94 and a 1-year high of $27.77. The company’s fifty day simple moving average is $24.75 and its 200-day simple moving average is $23.59.

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

Institutional Trading of IMAX

Several hedge funds have recently modified their holdings of IMAX. Blue Trust Inc. grew its holdings in shares of IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after purchasing an additional 561 shares in the last quarter. Huntington National Bank purchased a new position in shares of IMAX in the 3rd quarter worth $34,000. Quarry LP lifted its position in shares of IMAX by 78,333.3% in 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 period. Tower Research Capital LLC TRC boosted its stake in shares of IMAX by 415.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock valued at $185,000 after purchasing an additional 5,832 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in IMAX during the third quarter valued at approximately $205,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.