IMAX (NYSE:IMAX) Stock Rating Upgraded by Wall Street Zen

IMAX (NYSE:IMAX) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Sunday.

Several other equities research analysts also recently commented on IMAX. Rosenblatt Securities lifted their target price on shares of IMAX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Wedbush lifted their price target on shares of IMAX from $39.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, December 8th. Benchmark increased their price objective on IMAX from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, December 8th. Barrington Research raised their target price on IMAX from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, December 8th. Finally, The Goldman Sachs Group upgraded IMAX from a “sell” rating to a “neutral” rating and upped their price target for the company from $22.00 to $34.00 in a research report on Tuesday, November 25th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.50.

IMAX Stock Performance

Shares of IMAX opened at $37.23 on Friday. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 52.43, a PEG ratio of 2.27 and a beta of 0.41. IMAX has a 52 week low of $20.48 and a 52 week high of $39.98. The stock has a fifty day moving average of $35.01 and a 200-day moving average of $30.92.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, October 23rd. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. IMAX had a return on equity of 9.91% and a net margin of 10.47%.The firm had revenue of $106.65 million during the quarter, compared to the consensus estimate of $102.88 million. During the same period last year, the company earned $0.35 earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities analysts forecast that IMAX will post 0.91 EPS for the current year.

Insider Transactions at IMAX

In other IMAX news, VP Robert D. Lister sold 50,143 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $34.67, for a total transaction of $1,738,457.81. Following the transaction, the vice president directly owned 161,421 shares in the company, valued at approximately $5,596,466.07. This represents a 23.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Giovanni M. Dolci sold 6,188 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $34.25, for a total transaction of $211,939.00. Following the sale, the executive vice president directly owned 33,000 shares of the company’s stock, valued at approximately $1,130,250. This trade represents a 15.79% decrease in their position. The SEC filing for this sale provides additional information. 24.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IMAX. JPMorgan Chase & Co. raised its holdings in shares of IMAX by 10.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,029,602 shares of the company’s stock worth $28,788,000 after acquiring an additional 101,048 shares during the last quarter. Nuveen LLC purchased a new stake in shares of IMAX in the first quarter worth approximately $4,438,000. Ameriprise Financial Inc. lifted its holdings in shares of IMAX by 8.3% in the first quarter. Ameriprise Financial Inc. now owns 1,974,068 shares of the company’s stock valued at $52,019,000 after purchasing an additional 150,552 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of IMAX by 3.4% in the first quarter. Northern Trust Corp now owns 354,233 shares of the company’s stock valued at $9,334,000 after purchasing an additional 11,588 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of IMAX by 2,496.9% during the first quarter. Jane Street Group LLC now owns 573,919 shares of the company’s stock valued at $15,123,000 after buying an additional 551,819 shares during the last quarter. 93.51% of the stock is owned by institutional investors.

IMAX Company Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.