StockNews.com Downgrades IMAX (NYSE:IMAX) to Hold

IMAX (NYSE:IMAX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Other research analysts have also issued research reports about the stock. Barrington Research upped their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Macquarie boosted their target price on shares of IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Wedbush reissued an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a research report on Thursday, February 20th. Finally, Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of IMAX in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

IMAX Stock Down 3.5 %

Shares of NYSE:IMAX opened at $26.08 on Thursday. IMAX has a fifty-two week low of $14.94 and a fifty-two week high of $27.77. The company 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. The company’s 50-day moving average price is $25.23 and its 200 day moving average price is $23.82.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (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 the consensus estimate of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. As a group, equities analysts anticipate that IMAX will post 0.91 EPS for the current year.

Hedge Funds Weigh In On IMAX

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its position in shares of IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after buying an additional 561 shares during the period. Quarry LP increased 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 purchasing an additional 2,350 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in IMAX by 415.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock valued at $185,000 after purchasing an additional 5,832 shares during the last quarter. Intech Investment Management LLC bought a new stake in IMAX during the third quarter worth about $205,000. Finally, Wealthfront Advisers LLC acquired a new stake in shares of IMAX during the fourth quarter worth approximately $217,000. 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.