IMAX (NYSE:IMAX) Cut to Hold at StockNews.com

StockNews.com downgraded shares of IMAX (NYSE:IMAX) from a buy rating to a hold rating in a research report report published on Thursday.

Several other research analysts have also recently issued reports on IMAX. Wells Fargo & Company increased their price target on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Macquarie lifted their price target on IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Barrington Research raised their target price on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price target on shares of IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Finally, Wedbush reissued an “outperform” rating and set a $32.00 price objective on shares of IMAX in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, IMAX presently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

IMAX Price Performance

IMAX stock opened at $26.08 on Thursday. The stock’s fifty day moving average is $25.23 and its two-hundred day moving average is $23.84. The stock has a market cap of $1.38 billion, a PE ratio of 53.23, a P/E/G ratio of 1.49 and a beta of 1.22. IMAX has a 1-year low of $14.94 and a 1-year high of $27.77.

IMAX (NYSE:IMAX) last posted its earnings results 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 for the quarter, compared to analyst estimates of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. On average, research analysts expect that IMAX will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IMAX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMAX. Blue Trust Inc. lifted its holdings 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 purchasing an additional 561 shares during the period. Quarry LP raised its position in shares of IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after buying an additional 2,350 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of IMAX by 415.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock worth $185,000 after acquiring an additional 5,832 shares during the period. Intech Investment Management LLC bought a new position in shares of IMAX in the third quarter valued at approximately $205,000. Finally, Wealthfront Advisers LLC acquired a new position in shares of IMAX during the fourth quarter valued at approximately $217,000. 93.51% of the stock is owned by institutional investors.

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.