IMAX (NYSE:IMAX) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of IMAX (NYSE:IMAX) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the stock. Barrington Research raised their target price on shares of IMAX from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. The Goldman Sachs Group upped their price target on shares of IMAX from $42.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. B. Riley Financial increased their price target on shares of IMAX from $52.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Wedbush lifted their price objective on shares of IMAX from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Morgan Stanley began coverage on shares of IMAX in a research report on Thursday. They issued an “overweight” rating and a $63.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

IMAX Stock Performance

IMAX opened at $56.18 on Friday. The business’s 50-day simple moving average is $50.57 and its 200 day simple moving average is $42.72. IMAX has a 52-week low of $30.74 and a 52-week high of $56.68. The firm has a market capitalization of $3.08 billion, a PE ratio of 78.03, a PEG ratio of 1.74 and a beta of 0.40.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. The firm had revenue of $102.84 million during the quarter, compared to the consensus estimate of $96.09 million. IMAX had a return on equity of 15.47% and a net margin of 9.84%.The business’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. On average, research analysts forecast that IMAX will post 1.52 earnings per share for the current year.

Insiders Place Their Bets

In other IMAX news, VP Robert D. Lister sold 22,500 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $51.58, for a total transaction of $1,160,550.00. Following the completion of the sale, the vice president owned 182,375 shares of the company’s stock, valued at $9,406,902.50. This trade represents a 10.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kenneth Weissman sold 8,000 shares of IMAX stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $54.54, for a total transaction of $436,320.00. Following the transaction, the insider directly owned 28,205 shares of the company’s stock, valued at approximately $1,538,300.70. This trade represents a 22.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 507,257 shares of company stock valued at $26,673,571 over the last 90 days. 20.55% of the stock is owned by insiders.

Hedge Funds Weigh In On IMAX

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of IMAX during the 2nd quarter worth about $115,881,000. Westfield Capital Management Co. LP raised its holdings in IMAX by 44.6% in the 4th quarter. Westfield Capital Management Co. LP now owns 2,346,486 shares of the company’s stock valued at $86,726,000 after acquiring an additional 723,861 shares during the period. Nantahala Capital Management LLC acquired a new stake in IMAX during the second quarter worth approximately $26,228,239. Marsico Capital Management LLC bought a new stake in shares of IMAX during the fourth quarter worth approximately $18,149,000. Finally, Bank of America Corp DE acquired a new position in shares of IMAX in the second quarter valued at approximately $17,420,000. 93.51% of the stock is owned by institutional investors.

IMAX News Roundup

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: Morgan Stanley initiated coverage of IMAX with an Overweight rating and a $63 price target, calling the company an important or “must-have” platform for movie theaters. The endorsement supports the view that IMAX can continue gaining share as exhibitors emphasize premium experiences. CNBC Morgan Stanley IMAX coverage
• Positive Sentiment: Analyst commentary suggests the success of major releases such as The Odyssey could help reshape the moviegoing experience and reinforce demand for IMAX screens, potentially supporting higher attendance and premium ticket pricing. The Odyssey and IMAX stock analysis
• Positive Sentiment: Disney+’s VisionQuest is reportedly receiving an early IMAX release, adding another high-profile title to the company’s content pipeline and broadening IMAX’s relationship with major studios and streaming platforms. Disney VisionQuest IMAX release
• Positive Sentiment: New Meta virtual-reality glasses reportedly include 5K displays and IMAX support, giving the brand potential exposure beyond traditional cinemas and creating a possible long-term licensing or partnership opportunity. Meta VR glasses with IMAX support
• Neutral Sentiment: Coverage of IMAX, Dolby and Meta’s immersive-entertainment efforts highlights the strategic value of premium formats, although the direct financial contribution from VR glasses remains uncertain. IMAX Dolby and Meta immersive entertainment
• Neutral Sentiment: Broader marketing of IMAX and 4DX may further differentiate premium theaters from standard cinemas, but the article does not establish a specific near-term earnings impact. IMAX and 4DX theater marketing

About IMAX

IMAX Corporation (NYSE: IMAX) is an entertainment technology company that develops and operates premium large-format cinema experiences. Its systems combine specialized projection, immersive sound, large screens and theater design to present feature films, documentaries and other filmed content.

The company provides cinema operators with IMAX projection and sound systems, including its IMAX with Laser technology, as well as theater design, installation and technical support. IMAX also works with filmmakers and studios on content capture, post-production and remastering to optimize movies for its format, including selected 2D and 3D releases.

Founded in 1967, IMAX has expanded from its origins in documentary and institutional film presentations into a global theatrical network.