IMAX Corporation (NYSE:IMAX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of IMAX Corporation (NYSE:IMAX) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $42.70.

IMAX has been the topic of several recent analyst reports. B. Riley Financial reaffirmed a “buy” rating on shares of IMAX in a research note on Monday, December 8th. JPMorgan Chase & Co. raised shares of IMAX from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $32.00 to $47.00 in a research note on Monday, December 15th. Macquarie Infrastructure increased their price objective on IMAX from $39.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Wall Street Zen raised IMAX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of IMAX in a report on Monday, December 29th.

Institutional Investors Weigh In On IMAX

Several large investors have recently modified their holdings of the business. Orbis Allan Gray Ltd boosted its stake in shares of IMAX by 31.7% during the second quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock valued at $142,960,000 after purchasing an additional 1,230,267 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in IMAX by 44.6% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,346,486 shares of the company’s stock worth $86,726,000 after buying an additional 723,861 shares during the period. Dimensional Fund Advisors LP boosted its position in IMAX by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,213,829 shares of the company’s stock valued at $44,864,000 after acquiring an additional 20,863 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in shares of IMAX by 24.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,133,993 shares of the company’s stock valued at $31,706,000 after acquiring an additional 225,742 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of IMAX by 0.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,083,992 shares of the company’s stock worth $35,501,000 after acquiring an additional 3,494 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.

IMAX Stock Down 3.0%

IMAX opened at $35.40 on Friday. The business has a fifty day moving average of $36.39 and a 200 day moving average of $33.02. The stock has a market cap of $1.90 billion, a P/E ratio of 49.85, a PEG ratio of 1.80 and a beta of 0.38. IMAX has a 52-week low of $20.48 and a 52-week high of $39.98.

About IMAX

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.