IMAX (NYSE:IMAX) Hits New 1-Year High – Time to Buy?

IMAX Co. (NYSE:IMAX)’s stock price reached a new 52-week high on Friday . The company traded as high as $25.51 and last traded at $25.47, with a volume of 207272 shares. The stock had previously closed at $24.71.

Analysts Set New Price Targets

Several research firms have recently issued reports on IMAX. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a report on Thursday. Wedbush boosted their price objective on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their target price on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price objective on shares of IMAX in a report on Thursday, October 31st. Finally, Macquarie raised their price target on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.22.

IMAX Stock Up 1.9 %

The firm has a 50 day moving average of $21.68 and a 200-day moving average of $19.43. The firm has a market capitalization of $1.33 billion, a P/E ratio of 55.90, a PEG ratio of 1.63 and a beta of 1.22.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The firm had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The business’s revenue was down 11.9% compared to the same quarter last year. During the same period last year, the business posted $0.27 EPS. As a group, research analysts expect that IMAX Co. will post 0.76 EPS for the current year.

Institutional Trading of IMAX

A number of hedge funds have recently made changes to their positions in IMAX. US Bancorp DE increased its position in shares of IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after buying an additional 1,452 shares during the period. Huntington National Bank purchased a new stake in shares of IMAX in the third quarter worth $34,000. Headlands Technologies LLC purchased a new position in IMAX during the second quarter valued at $35,000. Price T Rowe Associates Inc. MD grew its stake in shares of IMAX by 19.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after buying an additional 2,153 shares in the last quarter. Finally, Quarry LP lifted its holdings 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 acquiring an additional 2,350 shares during the last quarter. 93.51% of the stock is owned by 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.