IMAX (NYSE:IMAX) Upgraded by Seaport Res Ptn to “Strong-Buy”

Seaport Res Ptn upgraded shares of IMAX (NYSE:IMAX) to a strong-buy rating in a research note issued to investors on Wednesday, Zacks.com reports.

Several other equities research analysts have also recently commented on the company. B. Riley raised their target price on IMAX from $27.00 to $30.00 and gave the stock a buy rating in a research note on Monday, July 8th. Benchmark reiterated a buy rating and issued a $22.00 price objective on shares of IMAX in a research note on Thursday, June 20th. Wedbush reiterated an outperform rating and set a $22.00 target price on shares of IMAX in a research report on Thursday, July 18th. Roth Mkm raised their price target on shares of IMAX from $22.00 to $23.00 and gave the stock a buy rating in a report on Thursday, July 18th. Finally, Barrington Research reiterated an outperform rating and set a $24.00 price objective on shares of IMAX in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $23.56.

IMAX Stock Performance

Shares of NYSE IMAX opened at $20.09 on Wednesday. IMAX has a 52-week low of $13.20 and a 52-week high of $20.70. The company’s 50 day moving average price is $16.75 and its 200-day moving average price is $16.14. The company has a market capitalization of $1.06 billion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 1.69 and a beta of 1.26.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. IMAX had a net margin of 5.97% and a return on equity of 7.77%. The business had revenue of $88.96 million for the quarter, compared to analysts’ expectations of $74.52 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. Analysts forecast that IMAX will post 0.57 earnings per share for the current year.

Institutional Trading of IMAX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new position in shares of IMAX in the first quarter valued at approximately $1,070,000. Acadian Asset Management LLC boosted its holdings in IMAX by 178.7% during the 1st quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock worth $7,934,000 after acquiring an additional 314,742 shares during the last quarter. Kodai Capital Management LP bought a new stake in shares of IMAX in the 4th quarter worth $5,287,000. Principal Financial Group Inc. purchased a new stake in shares of IMAX in the first quarter valued at about $871,000. Finally, Victory Capital Management Inc. raised its holdings in shares of IMAX by 13.0% in the fourth quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock valued at $12,396,000 after purchasing an additional 95,182 shares during the last quarter. 93.51% of the stock is owned by institutional investors.

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.