IMAX (NYSE:IMAX) Downgraded by StockNews.com to Hold

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

A number of other research analysts also recently weighed in on the company. Macquarie increased 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 stock an “outperform” rating in a report on Thursday, February 20th. Wells Fargo & Company upped their price target on IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lifted their price objective 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, Benchmark reaffirmed a “buy” rating and issued a $30.00 target price on shares of IMAX in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.67.

IMAX Trading Down 3.5 %

Shares of NYSE:IMAX opened at $26.08 on Thursday. IMAX has a 1-year low of $14.94 and a 1-year high of $27.77. The stock has a market capitalization of $1.38 billion, a P/E ratio of 53.23, a P/E/G ratio of 1.49 and a beta of 1.22. The business has a 50-day moving average price of $25.23 and a two-hundred day moving average price of $23.82.

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

Hedge Funds Weigh In On IMAX

A number of large investors have recently bought and sold shares of the company. FMR LLC lifted its position in shares of IMAX by 108.4% in the third quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after purchasing an additional 2,054,031 shares in the last quarter. Ameriprise Financial Inc. increased its stake 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 buying an additional 491,172 shares during the last quarter. Raymond James Financial Inc. bought a new stake in IMAX during the 4th quarter worth about $9,143,000. Lord Abbett & CO. LLC acquired a new position in shares of IMAX during the 3rd quarter worth about $6,322,000. Finally, Pier Capital LLC grew its holdings in shares of 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. Institutional investors and hedge funds 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.