IMAX (NYSE:IMAX) Upgraded at StockNews.com

StockNews.com upgraded shares of IMAX (NYSE:IMAX) from a hold rating to a buy rating in a research note published on Wednesday.

A number of other research firms also recently issued reports on IMAX. JPMorgan Chase & Co. lifted their target price on IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Rosenblatt Securities lifted their target price on IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Benchmark reaffirmed a “buy” rating and issued a $30.00 target price on shares of IMAX in a research report on Thursday, February 20th. Macquarie lifted their target price on IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research report 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 report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $30.67.

IMAX Price Performance

IMAX opened at $26.80 on Wednesday. The business’s 50-day moving average price is $24.83 and its two-hundred day moving average price is $23.63. IMAX has a 1 year low of $14.94 and a 1 year high of $27.77. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 54.68, a P/E/G ratio of 1.49 and a beta of 1.22.

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 firm had revenue of $92.67 million during the quarter, compared to analyst estimates of $104.08 million. Sell-side analysts anticipate that IMAX will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IMAX

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its position in shares of IMAX by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock valued at $747,000 after buying an additional 533 shares in the last quarter. Blue Trust Inc. raised its position 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 buying an additional 561 shares in the last quarter. MetLife Investment Management LLC raised its position in IMAX by 3.4% during the fourth quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock valued at $664,000 after purchasing an additional 848 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in IMAX by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,395 shares of the company’s stock valued at $625,000 after purchasing an additional 905 shares in the last quarter. Finally, State of Tennessee Department of Treasury raised its position in IMAX by 19.8% during the fourth quarter. State of Tennessee Department of Treasury now owns 9,827 shares of the company’s stock valued at $252,000 after purchasing an additional 1,627 shares in the last quarter. 93.51% of the stock is currently 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.