Canaccord Genuity upgraded shares of Imax (NYSE:IMAX) to a buy rating in a research report report published on Thursday morning, AnalystRatings.com reports. Canaccord Genuity currently has $23.00 price target on the stock.
IMAX has been the topic of a number of other reports. Benchmark dropped their price objective on Imax from $28.00 to $20.00 and set a buy rating on the stock in a research note on Wednesday, January 29th. ValuEngine upgraded Imax from a sell rating to a hold rating in a research note on Friday, January 3rd. MKM Partners dropped their price objective on Imax to and set a buy rating on the stock in a research note on Tuesday, February 4th. B. Riley reiterated a buy rating and issued a $26.00 price objective (down from $30.00) on shares of Imax in a research note on Wednesday, February 12th. Finally, Wedbush reiterated an outperform rating and issued a $22.00 price objective (down from $28.00) on shares of Imax in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $23.88.
NYSE IMAX opened at $16.90 on Thursday. Imax has a fifty-two week low of $16.29 and a fifty-two week high of $25.75. The stock’s 50-day moving average is $18.49 and its two-hundred day moving average is $20.69. The firm has a market cap of $1.04 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 1.51 and a beta of 1.02.
In related news, insider Mark Welton sold 2,831 shares of Imax stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $21.25, for a total transaction of $60,158.75. Following the sale, the insider now directly owns 5,670 shares of the company’s stock, valued at $120,487.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 20.20% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in IMAX. First Trust Advisors LP grew its position in Imax by 73.0% during the first quarter. First Trust Advisors LP now owns 38,383 shares of the company’s stock worth $871,000 after buying an additional 16,201 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Imax by 4.2% during the second quarter. Vanguard Group Inc. now owns 436,740 shares of the company’s stock valued at $8,823,000 after purchasing an additional 17,670 shares in the last quarter. Morgan Stanley boosted its holdings in Imax by 316.7% during the second quarter. Morgan Stanley now owns 249,802 shares of the company’s stock valued at $5,046,000 after purchasing an additional 189,858 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Imax by 9.9% during the third quarter. Envestnet Asset Management Inc. now owns 12,291 shares of the company’s stock valued at $270,000 after purchasing an additional 1,106 shares in the last quarter. Finally, Strs Ohio boosted its holdings in Imax by 27.5% during the third quarter. Strs Ohio now owns 37,600 shares of the company’s stock valued at $825,000 after purchasing an additional 8,100 shares in the last quarter. 78.43% of the stock is currently owned by institutional investors and hedge funds.
IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, and joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.
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