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

StockNews.com upgraded shares of IMAX (NYSE:IMAX) from a hold rating to a buy rating in a research note released on Wednesday morning.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Wedbush reissued an “outperform” rating and set a $32.00 price target on shares of IMAX in a research report on Thursday, February 20th. Rosenblatt Securities lifted their price objective on IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Macquarie increased their target price on IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Benchmark restated a “buy” rating and issued a $30.00 price target on shares of IMAX in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $30.67.

IMAX Trading Up 6.7 %

IMAX stock opened at $25.97 on Wednesday. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.22. The stock’s 50 day moving average is $24.69 and its 200-day moving average is $23.57. IMAX has a 12 month low of $14.94 and a 12 month high of $27.77.

IMAX (NYSE:IMAX) last issued 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 firm had revenue of $92.67 million during the quarter, compared to analyst estimates of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. As a group, equities research analysts predict that IMAX will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IMAX

Institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in shares of IMAX by 69.3% during the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock worth $2,661,000 after buying an additional 42,562 shares during the last quarter. Savant Capital LLC bought a new stake in IMAX during the 4th quarter worth $249,000. Quantbot Technologies LP acquired a new position in IMAX in the 3rd quarter worth about $777,000. Lord Abbett & CO. LLC acquired a new position in IMAX in the 3rd quarter worth about $6,322,000. Finally, SG Americas Securities LLC acquired a new stake in shares of IMAX during the fourth quarter valued at about $333,000. 93.51% of the stock is currently 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.