IMAX (NYSE:IMAX) Upgraded at StockNews.com

IMAX (NYSE:IMAX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Several other brokerages also recently issued reports on IMAX. Wedbush reissued an “outperform” rating and set a $32.00 price target on shares of IMAX in a report on Thursday, February 20th. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of IMAX in a research note on Thursday, February 20th. Rosenblatt Securities raised their target price on IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Wells Fargo & Company raised their target price on IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised their target price on IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. 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.com, IMAX presently has an average rating of “Buy” and a consensus target price of $30.67.

IMAX Trading Down 2.3 %

IMAX stock traded down $0.60 during trading on Monday, hitting $25.00. 613,640 shares of the stock traded hands, compared to its average volume of 722,261. IMAX has a one year low of $14.94 and a one year high of $27.77. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 51.02, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a 50 day simple moving average of $24.76 and a 200 day simple moving average of $23.28.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The firm had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. As a group, analysts predict that IMAX will post 0.91 earnings per share for the current fiscal year.

Insider Activity

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the transaction, the executive vice president now directly owns 138,889 shares of the company’s stock, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the transaction, the insider now directly owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,176 shares of company stock valued at $1,662,110 in the last ninety days. 24.08% of the stock is owned by insiders.

Institutional Investors Weigh In On IMAX

Several institutional investors have recently added to or reduced their stakes in IMAX. FMR LLC lifted its position in IMAX by 108.4% in the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company’s stock valued at $81,007,000 after acquiring an additional 2,054,031 shares in the last quarter. Ameriprise Financial Inc. lifted its position in IMAX by 36.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company’s stock valued at $46,671,000 after acquiring an additional 491,172 shares in the last quarter. Raymond James Financial Inc. bought a new stake in IMAX in the 4th quarter valued at $9,143,000. Lord Abbett & CO. LLC bought a new stake in IMAX in the 3rd quarter valued at $6,322,000. Finally, Pier Capital LLC lifted its position in IMAX by 132.6% in the 4th quarter. Pier Capital LLC now owns 478,760 shares of the company’s stock valued at $12,256,000 after acquiring an additional 272,949 shares in the last quarter. 93.51% of the stock is owned by institutional investors.

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.