IMAX (NYSE:IMAX) Sets New 52-Week High – What’s Next?

Shares of IMAX Co. (NYSE:IMAX) hit a new 52-week high during trading on Friday . The company traded as high as $26.54 and last traded at $26.47, with a volume of 252992 shares traded. The stock had previously closed at $26.03.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IMAX shares. JPMorgan Chase & Co. increased their price target on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Wedbush reiterated an “outperform” rating on shares of IMAX in a research report on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $28.00 price target on shares of IMAX in a research note on Thursday, October 31st. Barrington Research reissued an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research report on Thursday, October 31st. Finally, Roth Mkm upped their target price on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.22.

IMAX Trading Up 0.9 %

The stock’s fifty day simple moving average is $22.18 and its 200-day simple moving average is $19.74. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 59.16, a price-to-earnings-growth ratio of 1.66 and a beta of 1.22.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.23 by $0.12. The company had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. On average, analysts anticipate that IMAX Co. will post 0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On IMAX

Institutional investors have recently modified their holdings of the company. Huntington National Bank purchased a new stake in shares of IMAX in the 3rd quarter worth about $34,000. Headlands Technologies LLC acquired a new position in shares of IMAX during the 2nd quarter worth approximately $35,000. Quarry LP lifted its stake in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after buying an additional 2,350 shares in the last quarter. nVerses Capital LLC acquired a new stake in IMAX during the 3rd quarter valued at $70,000. Finally, Summit Securities Group LLC purchased a new position in IMAX during the second quarter worth $80,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.