IMAX (NYSE:IMAX) Lowered to “Hold” Rating by StockNews.com

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

A number of other research firms have also weighed in on IMAX. JPMorgan Chase & Co. raised their price target on shares of IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Macquarie raised their price objective on IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company boosted their target price on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Finally, Wedbush restated an “outperform” rating and issued a $32.00 target price on shares of IMAX in a research note on Thursday, February 20th. Two 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

IMAX Price Performance

NYSE:IMAX opened at $27.36 on Thursday. The business’s 50-day moving average is $25.08 and its two-hundred day moving average is $23.77. The firm has a market capitalization of $1.45 billion, a PE ratio of 55.84, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. IMAX has a 12 month low of $14.94 and a 12 month high of $27.77.

IMAX (NYSE:IMAX) last released its quarterly earnings results 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 return on equity of 8.60% and a net margin of 7.40%. The company had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. Equities analysts anticipate that IMAX will post 0.91 EPS for the current year.

Institutional Investors Weigh In On IMAX

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of IMAX by 138.5% during the 4th 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. Quarry LP boosted its holdings 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. Tower Research Capital LLC TRC grew its position in IMAX by 415.4% in 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 during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of IMAX during the fourth quarter worth $217,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of IMAX during the fourth quarter valued at $248,000. 93.51% of the stock is currently 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.