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 report sent to investors on Thursday.

Several other research analysts have also recently issued reports on IMAX. Barrington Research restated an “outperform” rating and issued a $24.00 price objective on shares of IMAX in a research note on Thursday, October 31st. Seaport Res Ptn upgraded shares of IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. Wedbush increased their price target on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Roth Mkm boosted their price objective on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $28.00 target price on shares of IMAX in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.22.

IMAX Trading Down 1.5 %

Shares of IMAX stock traded down $0.37 during trading hours on Thursday, reaching $24.35. 655,844 shares of the company’s stock were exchanged, compared to its average volume of 761,660. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 55.34, a P/E/G ratio of 1.62 and a beta of 1.22. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $25.28. The stock’s 50 day moving average is $21.06 and its 200-day moving average is $18.96.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $93.71 million. During the same period last year, the business earned $0.27 EPS. IMAX’s revenue for the quarter was down 11.9% on a year-over-year basis. Equities analysts anticipate that IMAX will post 0.76 EPS for the current year.

Institutional Investors Weigh In On IMAX

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Foundry Partners LLC grew its position in shares of IMAX by 21.5% in the third quarter. Foundry Partners LLC now owns 221,295 shares of the company’s stock valued at $4,539,000 after purchasing an additional 39,095 shares during the period. Intech Investment Management LLC acquired a new stake in IMAX in the 3rd quarter worth about $205,000. Mutual of America Capital Management LLC increased its stake in IMAX by 22.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 206,291 shares of the company’s stock worth $4,231,000 after buying an additional 37,462 shares in the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of IMAX by 47.5% during the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock valued at $7,952,000 after acquiring an additional 124,811 shares during the last quarter. Finally, Royce & Associates LP lifted its position in shares of IMAX by 3.1% in the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock valued at $37,382,000 after acquiring an additional 54,850 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.