IMAX (NYSE:IMAX) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of IMAX (NYSE:IMAX) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.

Several other equities research analysts have also commented on the stock. B. Riley Financial reissued a “buy” rating on shares of IMAX in a research note on Monday, December 8th. Rosenblatt Securities boosted their price target on IMAX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. JPMorgan Chase & Co. raised IMAX from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $47.00 in a research report on Monday, December 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of IMAX in a research note on Monday, December 29th. Finally, Benchmark reissued a “buy” rating on shares of IMAX in a research note on Monday, January 5th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.70.

IMAX Stock Up 2.3%

NYSE IMAX opened at $37.23 on Friday. The firm has a market capitalization of $2.00 billion, a PE ratio of 52.44, a P/E/G ratio of 1.84 and a beta of 0.38. The stock’s 50 day moving average is $36.33 and its 200 day moving average is $32.83. IMAX has a twelve month low of $20.48 and a twelve month high of $39.98.

Insider Transactions at IMAX

In other news, EVP Giovanni M. Dolci sold 6,188 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $34.25, for a total transaction of $211,939.00. Following the sale, the executive vice president owned 33,000 shares of the company’s stock, valued at $1,130,250. This trade represents a 15.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 23.18% of the company’s stock.

Institutional Investors Weigh In On IMAX

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aurora Investment Counsel grew its stake in IMAX by 0.4% during the third quarter. Aurora Investment Counsel now owns 70,235 shares of the company’s stock valued at $2,300,000 after acquiring an additional 308 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of IMAX by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock valued at $34,000 after purchasing an additional 317 shares during the last quarter. GAMMA Investing LLC grew its position in shares of IMAX by 22.3% during the fourth quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $69,000 after purchasing an additional 342 shares in the last quarter. Arizona State Retirement System grew its position in shares of IMAX by 2.8% during the third quarter. Arizona State Retirement System now owns 13,517 shares of the company’s stock valued at $443,000 after purchasing an additional 364 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of IMAX by 125.0% in the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.