IMAX (NYSE:IMAX) Stock Price Up 2.1% – Here’s What Happened

IMAX Co. (NYSE:IMAX)’s stock price was up 2.1% during trading on Monday . The company traded as high as $24.88 and last traded at $24.84. Approximately 85,546 shares traded hands during trading, a decline of 88% from the average daily volume of 719,441 shares. The stock had previously closed at $24.32.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Barrington Research raised their price target on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Wedbush restated an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a research report on Thursday, February 20th. Benchmark restated a “buy” rating and issued a $30.00 price objective on shares of IMAX in a report on Thursday, February 20th. Finally, Rosenblatt Securities increased their price target on shares of IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Two investment 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 stock. Based on data from MarketBeat.com, IMAX has an average rating of “Moderate Buy” and an average price target of $30.67.

IMAX Stock Up 3.8 %

The stock’s fifty day moving average is $25.46 and its two-hundred day moving average is $24.12. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 47.82, a P/E/G ratio of 1.49 and a beta of 0.91.

IMAX (NYSE:IMAX) last announced its 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 firm had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. As a group, analysts anticipate that IMAX Co. will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares during the period. Quarry LP grew its holdings in 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 acquiring an additional 2,350 shares during the period. Tower Research Capital LLC TRC raised its position in shares of IMAX by 415.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock worth $185,000 after acquiring an additional 5,832 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in shares of IMAX in the 4th quarter valued at about $217,000. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of IMAX during the 4th quarter valued at about $248,000. 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.