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

StockNews.com cut shares of IMAX (NYSE:IMAX) from a buy rating to a hold rating in a report published on Tuesday.

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

IMAX Trading Down 2.3 %

Shares of IMAX stock opened at $24.21 on Tuesday. The stock has a 50 day moving average of $24.70 and a 200 day moving average of $23.45. The stock has a market cap of $1.28 billion, a P/E ratio of 49.40, a P/E/G ratio of 1.49 and a beta of 1.22. IMAX has a twelve month low of $14.94 and a twelve month high of $27.77.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 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 business had revenue of $92.67 million during the quarter, compared to analyst estimates of $104.08 million. On average, research analysts predict that IMAX will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IMAX

A number of institutional investors have recently added to or reduced their stakes in IMAX. Blue Trust Inc. lifted its position in IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after buying an additional 561 shares in the last quarter. Huntington National Bank purchased a new position in IMAX during the third quarter worth approximately $34,000. Quarry LP lifted its position in IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after buying an additional 2,350 shares in the last quarter. US Bancorp DE lifted its position in IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after buying an additional 1,452 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position 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 buying an additional 5,832 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.