IMAX (NYSE:IMAX) Hits New 1-Year High on Analyst Upgrade

Shares of IMAX Co. (NYSE:IMAX) hit a new 52-week high during trading on Thursday after Roth Mkm raised their price target on the stock from $27.00 to $28.00. Roth Mkm currently has a buy rating on the stock. IMAX traded as high as $23.25 and last traded at $23.23, with a volume of 30430 shares trading hands. The stock had previously closed at $21.68.

Several other brokerages also recently issued reports on IMAX. Macquarie raised their price target on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. B. Riley raised their target price on IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a report on Monday, July 8th. Wedbush upped their price target on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Barrington Research reissued an “outperform” rating and issued a $24.00 price objective on shares of IMAX in a research report on Thursday. Finally, Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

Institutional Investors Weigh In On IMAX

A number of institutional investors have recently bought and sold shares of IMAX. US Bancorp DE raised its holdings in shares of IMAX by 23.4% in the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after buying an additional 1,452 shares in the last quarter. Headlands Technologies LLC bought a new position in IMAX during the 2nd quarter valued at about $35,000. Price T Rowe Associates Inc. MD grew its stake in IMAX by 19.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after buying an additional 2,153 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of IMAX during the fourth quarter worth approximately $33,000. Finally, nVerses Capital LLC bought a new position in shares of IMAX in the third quarter valued at approximately $70,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Trading Down 1.0 %

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 54.68, a P/E/G ratio of 1.63 and a beta of 1.22. The firm has a fifty day moving average price of $20.75 and a 200 day moving average price of $18.69.

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.