IMAX (NYSE:IMAX) Upgraded at StockNews.com

IMAX (NYSE:IMAX) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company raised their price objective on shares of IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised their price objective on shares of IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Barrington Research raised their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of IMAX in a research report on Thursday, February 20th. Finally, Rosenblatt Securities increased their price objective on IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, IMAX presently has a consensus rating of “Buy” and a consensus target price of $30.67.

IMAX Trading Down 2.3 %

IMAX stock traded down $0.60 during midday trading on Monday, reaching $25.00. The company had a trading volume of 613,640 shares, compared to its average volume of 722,261. IMAX has a 1 year low of $14.94 and a 1 year high of $27.77. The company has a market capitalization of $1.33 billion, a P/E ratio of 51.02, a PEG ratio of 1.49 and a beta of 1.22. The company has a 50 day moving average of $24.76 and a two-hundred day moving average of $23.28.

IMAX (NYSE:IMAX) last released its 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). IMAX had a return on equity of 8.60% and a net margin of 7.40%. The company had revenue of $92.67 million during the quarter, compared to analysts’ expectations of $104.08 million. On average, sell-side analysts anticipate that IMAX will post 0.91 earnings per share for the current year.

Insider Buying and Selling at IMAX

In related news, EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the transaction, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. This represents a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the transaction, the insider now owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock worth $1,662,110 over the last ninety days. Company insiders own 24.08% of the company’s stock.

Institutional Trading of IMAX

A number of institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in shares of IMAX by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock valued at $747,000 after purchasing an additional 533 shares during the period. Blue Trust Inc. increased its position in shares of IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after purchasing an additional 561 shares during the period. MetLife Investment Management LLC increased its position in shares of IMAX by 3.4% during the fourth quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock valued at $664,000 after purchasing an additional 848 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of IMAX by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,395 shares of the company’s stock valued at $625,000 after purchasing an additional 905 shares during the period. Finally, US Bancorp DE increased its position in shares of IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after purchasing an additional 1,452 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.