IMAX (NYSE:IMAX) Upgraded by StockNews.com to “Buy” Rating

IMAX (NYSE:IMAX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Other equities research analysts have also issued reports about the stock. Macquarie increased their target price on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Seaport Res Ptn upgraded shares of IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. Roth Mkm increased their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Wedbush increased their target price on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.22.

IMAX Stock Down 0.0 %

NYSE:IMAX traded down $0.01 on Thursday, hitting $24.72. The stock had a trading volume of 889,069 shares, compared to its average volume of 775,445. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 56.18, a PEG ratio of 1.82 and a beta of 1.22. The company has a fifty day moving average price of $20.93 and a two-hundred day moving average price of $18.86. IMAX has a 1-year low of $13.20 and a 1-year high of $25.28.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm had revenue of $91.50 million for the quarter, compared to analyst estimates of $93.71 million. During the same period in the prior year, the business posted $0.27 EPS. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, analysts anticipate that IMAX will post 0.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IMAX. Huntington National Bank purchased a new position in shares of IMAX in the 3rd quarter valued at $34,000. Headlands Technologies LLC purchased a new position in shares of IMAX in the 2nd quarter valued at $35,000. nVerses Capital LLC purchased a new position in shares of IMAX in the 3rd quarter valued at $70,000. Summit Securities Group LLC purchased a new position in shares of IMAX in the 2nd quarter valued at $80,000. Finally, Laurus Investment Counsel Inc. purchased a new position in shares of IMAX in the 2nd quarter valued at $150,000. 93.51% of the stock is owned by hedge funds and other 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.