StockNews.com Upgrades IMAX (NYSE:IMAX) to “Buy”

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

IMAX has been the topic of a number of other reports. Macquarie increased their target price on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 target price on shares of IMAX in a research report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of IMAX from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Wedbush restated an “outperform” rating and issued a $32.00 price target on shares of IMAX in a research note on Thursday, April 17th. Finally, Wells Fargo & Company decreased their price objective on IMAX from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $30.56.

IMAX Stock Up 2.6 %

Shares of NYSE IMAX opened at $23.89 on Friday. The business has a 50 day moving average price of $24.70 and a two-hundred day moving average price of $24.34. IMAX has a fifty-two week low of $14.94 and a fifty-two week high of $27.77. The firm has a market cap of $1.27 billion, a PE ratio of 48.76, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The company had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. On average, analysts anticipate that IMAX will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On IMAX

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in shares of IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after buying an additional 561 shares during the period. Creative Financial Designs Inc. ADV acquired a new stake in IMAX during the 1st quarter worth about $59,000. Tower Research Capital LLC TRC grew its stake in IMAX by 415.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock valued at $185,000 after acquiring an additional 5,832 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of IMAX in the fourth quarter worth approximately $217,000. Finally, Cornerstone Investment Partners LLC purchased a new position in IMAX during the fourth quarter valued at approximately $248,000. 93.51% of the stock is owned by institutional investors and hedge funds.

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.