IMAX (NYSE:IMAX) Upgraded at B. Riley

B. Riley upgraded shares of IMAX (NYSE:IMAX) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Benchmark reissued a “buy” rating and set a $30.00 price target on shares of IMAX in a research report on Thursday, April 10th. Barrington Research reissued an “outperform” rating and set a $32.00 price target on shares of IMAX in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on IMAX from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. StockNews.com raised IMAX from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Wedbush reissued an “outperform” rating and set a $32.00 price target on shares of IMAX in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, IMAX has an average rating of “Buy” and a consensus target price of $31.22.

IMAX Stock Up 1.0%

Shares of IMAX opened at $27.20 on Thursday. The business’s 50 day moving average is $24.66 and its two-hundred day moving average is $24.82. IMAX has a 52-week low of $14.94 and a 52-week high of $27.77. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 55.50, a PEG ratio of 1.49 and a beta of 0.79.

IMAX (NYSE:IMAX) last announced its earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. IMAX had a return on equity of 8.60% and a net margin of 7.40%. The company had revenue of $86.67 million for the quarter, compared to analyst estimates of $82.95 million. During the same period in the prior year, the company posted $0.15 EPS. IMAX’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts expect that IMAX will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IMAX

Several large investors have recently added to or reduced their stakes in IMAX. SG Americas Securities LLC acquired a new stake in IMAX in the fourth quarter worth $333,000. Janney Montgomery Scott LLC increased its position in IMAX by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock worth $747,000 after buying an additional 533 shares during the period. Hedges Asset Management LLC increased its position in IMAX by 3.1% in the fourth quarter. Hedges Asset Management LLC now owns 83,600 shares of the company’s stock worth $2,140,000 after buying an additional 2,500 shares during the period. Blue Trust Inc. increased its position in 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. Finally, Calamos Advisors LLC acquired a new stake in IMAX in the fourth quarter worth $351,000. 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.