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 report issued on Thursday morning.

Other analysts have also recently issued research reports about the company. Barrington Research reiterated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research report on Thursday, October 31st. Rosenblatt Securities restated a “buy” rating and issued a $28.00 price target on shares of IMAX in a research report on Thursday, October 31st. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. Roth Mkm upped their price target on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, IMAX presently has an average rating of “Moderate Buy” and an average price target of $24.22.

IMAX Stock Performance

IMAX stock opened at $24.35 on Thursday. The stock has a market cap of $1.28 billion, a PE ratio of 55.34, a price-to-earnings-growth ratio of 1.60 and a beta of 1.22. IMAX has a one year low of $13.20 and a one year high of $25.28. The stock has a fifty day moving average of $21.06 and a 200 day moving average of $18.97.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The company had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. IMAX’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 earnings per share. As a group, sell-side analysts predict that IMAX will post 0.76 EPS for the current fiscal year.

Institutional Trading of IMAX

Several institutional investors have recently made changes to their positions in IMAX. Royce & Associates LP boosted its stake in IMAX by 3.1% during the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock valued at $37,382,000 after buying an additional 54,850 shares during the last quarter. Victory Capital Management Inc. boosted its stake in IMAX by 9.8% during the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock valued at $29,136,000 after buying an additional 127,371 shares during the last quarter. Private Capital Management LLC lifted its stake in shares of IMAX by 10.0% in the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after purchasing an additional 118,649 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of IMAX by 5.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock valued at $13,740,000 after purchasing an additional 42,952 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock valued at $9,856,000 after purchasing an additional 279,410 shares during 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.