IMAX (NYSE:IMAX) Stock Rating Lowered by StockNews.com

IMAX (NYSE:IMAX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

A number of other brokerages have also issued reports on IMAX. Barrington Research upped their target price 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. Macquarie increased their target price on IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Wedbush reissued an “outperform” rating and set a $32.00 price target on shares of IMAX in a research report on Thursday, February 20th. Finally, Wells Fargo & Company lifted their price objective on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, IMAX has an average rating of “Moderate Buy” and an average target price of $30.67.

IMAX Stock Performance

Shares of NYSE:IMAX opened at $24.11 on Tuesday. IMAX has a 1 year low of $14.94 and a 1 year high of $27.77. The stock has a 50-day simple moving average of $24.67 and a 200-day simple moving average of $23.45. The stock has a market capitalization of $1.28 billion, a P/E ratio of 49.19, a PEG ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $104.08 million. Analysts predict that IMAX will post 0.91 earnings per share for the current year.

Institutional Trading of IMAX

Hedge funds have recently bought and sold shares of the company. Polar Asset Management Partners Inc. increased its stake in shares of IMAX by 191.6% in the fourth quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company’s stock valued at $5,236,000 after purchasing an additional 134,389 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in IMAX by 87.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,978 shares of the company’s stock valued at $3,788,000 after acquiring an additional 68,957 shares during the period. Squarepoint Ops LLC bought a new stake in IMAX during the 4th quarter valued at $999,000. Two Sigma Investments LP bought a new stake in IMAX during the 4th quarter valued at $2,411,000. Finally, State of Wyoming boosted its position in IMAX by 184.6% during the 4th quarter. State of Wyoming now owns 21,606 shares of the company’s stock worth $553,000 after acquiring an additional 14,014 shares during the period. 93.51% of the stock is currently 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.