IMAX (NYSE:IMAX) Trading 2.8% Higher

IMAX Co. (NYSE:IMAX) traded up 2.8% during trading on Thursday . The stock traded as high as $21.40 and last traded at $21.28. 117,804 shares were traded during mid-day trading, a decline of 85% from the average session volume of 804,002 shares. The stock had previously closed at $20.71.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Roth Mkm boosted their target price on IMAX from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Rosenblatt Securities boosted their target price on IMAX from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Benchmark restated a “buy” rating and issued a $22.00 target price on shares of IMAX in a research note on Thursday, June 20th. Macquarie boosted their target price on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Barrington Research reiterated an “outperform” rating and set a $25.00 price objective on shares of IMAX in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.56.

IMAX Trading Up 0.8 %

The company has a market cap of $1.12 billion, a P/E ratio of 44.52, a PEG ratio of 1.53 and a beta of 1.26. The business has a 50 day moving average price of $18.51 and a 200-day moving average price of $17.00.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The business had revenue of $88.96 million for the quarter, compared to analyst estimates of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 EPS. On average, sell-side analysts expect that IMAX Co. will post 0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Lombard Odier Asset Management USA Corp acquired a new position in shares of IMAX during the 2nd quarter worth approximately $300,000. Thrivent Financial for Lutherans increased its holdings in shares of IMAX by 5.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock worth $13,740,000 after acquiring an additional 42,952 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of IMAX during the 2nd quarter worth approximately $208,000. American Century Companies Inc. grew its holdings in IMAX by 57.0% in the 2nd quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock valued at $2,013,000 after buying an additional 43,584 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in IMAX in the 2nd quarter valued at $35,000. 93.51% of the stock is 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.