IMAX (NYSE:IMAX) Upgraded at StockNews.com

StockNews.com upgraded shares of IMAX (NYSE:IMAX) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

A number of other equities analysts also recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. Barrington Research restated an “outperform” rating and set a $24.00 price target on shares of IMAX in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Rosenblatt Securities reissued a “buy” rating and set a $28.00 target price on shares of IMAX in a research report on Thursday, October 31st. Finally, Benchmark upped their target price on IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IMAX has an average rating of “Moderate Buy” and an average price target of $25.11.

IMAX Trading Up 0.1 %

Shares of IMAX stock opened at $25.29 on Tuesday. The firm has a fifty day simple moving average of $24.34 and a two-hundred day simple moving average of $20.98. IMAX has a 12 month low of $13.20 and a 12 month high of $26.84. The firm has a market capitalization of $1.33 billion, a PE ratio of 57.48, a price-to-earnings-growth ratio of 1.69 and a beta of 1.23.

IMAX (NYSE:IMAX) last posted its earnings results 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 company had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities analysts predict that IMAX will post 0.77 earnings per share for the current fiscal year.

Insider Buying and Selling at IMAX

In related news, CFO Natasha Fernandes sold 2,957 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the sale, the chief financial officer now directly owns 14,883 shares in the company, valued at $379,814.16. This represents a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the sale, the executive vice president now directly owns 138,889 shares of the company’s stock, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock valued at $1,662,110 in the last 90 days. Corporate insiders own 24.08% of the company’s stock.

Institutional Investors Weigh In On IMAX

Several institutional investors and hedge funds have recently bought and sold shares of IMAX. Huntington National Bank purchased a new stake in IMAX in the third quarter worth about $34,000. Headlands Technologies LLC bought a new stake in IMAX during the 2nd quarter valued at about $35,000. Quarry LP raised its holdings in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of IMAX in the 3rd quarter worth $70,000. Finally, US Bancorp DE raised its stake in shares of IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after purchasing an additional 1,452 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.