IMAX (NYSE:IMAX) Raised to “Strong-Buy” at Wall Street Zen

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

Other equities analysts have also issued research reports about the company. Roth Mkm reiterated a “buy” rating and issued a $42.00 target price on shares of IMAX in a research note on Monday, December 8th. Benchmark reiterated a “buy” rating on shares of IMAX in a research note on Monday, January 5th. Wells Fargo & Company lifted their price target on shares of IMAX from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Rosenblatt Securities increased their price objective on IMAX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Monday, December 8th. Finally, JPMorgan Chase & Co. raised IMAX from a “neutral” rating to an “overweight” rating and upped their target price for the company from $32.00 to $47.00 in a research report on Monday, December 15th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.70.

IMAX Trading Up 2.3%

Shares of NYSE IMAX opened at $37.23 on Friday. IMAX has a 12-month low of $20.48 and a 12-month high of $39.98. The stock’s fifty day simple moving average is $36.33 and its two-hundred day simple moving average is $32.80. The stock has a market capitalization of $2.00 billion, a PE ratio of 52.44, a price-to-earnings-growth ratio of 1.80 and a beta of 0.38.

Insider Buying and Selling at IMAX

In other news, EVP Giovanni M. Dolci sold 6,188 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $34.25, for a total value of $211,939.00. Following the transaction, the executive vice president directly owned 33,000 shares of the company’s stock, valued at approximately $1,130,250. This represents a 15.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 23.18% of the company’s stock.

Hedge Funds Weigh In On IMAX

A number of institutional investors have recently bought and sold shares of IMAX. JPMorgan Chase & Co. grew its holdings in IMAX by 10.9% during the second 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 period. Emerald Mutual Fund Advisers Trust acquired a new position in IMAX in the third quarter valued at approximately $4,893,000. Aurora Investment Counsel purchased a new stake in IMAX in the 2nd quarter worth approximately $1,955,000. Pembroke Management LTD grew its stake in shares of IMAX by 18.4% during the 3rd quarter. Pembroke Management LTD now owns 516,622 shares of the company’s stock worth $16,919,000 after purchasing an additional 80,229 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of IMAX during the 3rd quarter worth approximately $897,000. 93.51% of the stock is owned by hedge funds and other 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.