IMAX (NYSE:IMAX) Stock Rating Lowered by Wall Street Zen

IMAX (NYSE:IMAX) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

IMAX has been the subject of several other reports. Barrington Research lifted their price target on shares of IMAX from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of IMAX from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. B. Riley Financial raised their price objective on shares of IMAX from $52.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Roth Capital lifted their target price on shares of IMAX from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Finally, Rosenblatt Securities lifted their target price on shares of IMAX from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.17.

IMAX Stock Up 0.2%

Shares of IMAX opened at $56.18 on Friday. The company’s fifty day moving average is $50.57 and its 200-day moving average is $42.75. IMAX has a 12 month low of $30.74 and a 12 month high of $56.68. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 78.03, a price-to-earnings-growth ratio of 1.76 and a beta of 0.40.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.13. The business had revenue of $102.84 million for the quarter, compared to analyst estimates of $96.09 million. IMAX had a return on equity of 15.47% and a net margin of 9.84%.The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 earnings per share. As a group, research analysts predict that IMAX will post 1.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Robert Lister sold 22,500 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $51.58, for a total transaction of $1,160,550.00. Following the sale, the vice president owned 182,375 shares of the company’s stock, valued at $9,406,902.50. This trade represents a 10.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard Gelfond sold 100,000 shares of IMAX stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $53.23, for a total transaction of $5,323,000.00. Following the completion of the transaction, the chief executive officer directly owned 665,002 shares in the company, valued at approximately $35,398,056.46. The trade was a 13.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 507,257 shares of company stock worth $26,673,571. 20.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IMAX

Several hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in shares of IMAX during the 2nd quarter worth about $85,000. Nykredit A S acquired a new stake in IMAX in the 2nd quarter valued at about $105,000. Caitong International Asset Management Co. Ltd lifted its stake in IMAX by 159.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,006 shares of the company’s stock valued at $111,000 after purchasing an additional 1,849 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in IMAX during the fourth quarter worth about $135,000. Finally, Clearstead Advisors LLC grew its holdings in IMAX by 338.8% during the fourth quarter. Clearstead Advisors LLC now owns 4,673 shares of the company’s stock worth $173,000 after purchasing an additional 3,608 shares during the period. Institutional investors own 93.51% of the company’s stock.

IMAX News Summary

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: Morgan Stanley initiated coverage of IMAX with an Overweight rating and a $63 price target, calling the company an important or “must-have” platform for movie theaters. The endorsement supports the view that IMAX can continue gaining share as exhibitors emphasize premium experiences. CNBC Morgan Stanley IMAX coverage
• Positive Sentiment: Analyst commentary suggests the success of major releases such as The Odyssey could help reshape the moviegoing experience and reinforce demand for IMAX screens, potentially supporting higher attendance and premium ticket pricing. The Odyssey and IMAX stock analysis
• Positive Sentiment: Disney+’s VisionQuest is reportedly receiving an early IMAX release, adding another high-profile title to the company’s content pipeline and broadening IMAX’s relationship with major studios and streaming platforms. Disney VisionQuest IMAX release
• Positive Sentiment: New Meta virtual-reality glasses reportedly include 5K displays and IMAX support, giving the brand potential exposure beyond traditional cinemas and creating a possible long-term licensing or partnership opportunity. Meta VR glasses with IMAX support
• Neutral Sentiment: Coverage of IMAX, Dolby and Meta’s immersive-entertainment efforts highlights the strategic value of premium formats, although the direct financial contribution from VR glasses remains uncertain. IMAX Dolby and Meta immersive entertainment
• Neutral Sentiment: Broader marketing of IMAX and 4DX may further differentiate premium theaters from standard cinemas, but the article does not establish a specific near-term earnings impact. IMAX and 4DX theater marketing

About IMAX

IMAX Corporation (NYSE: IMAX) is an entertainment technology company that develops and operates premium large-format cinema experiences. Its systems combine specialized projection, immersive sound, large screens and theater design to present feature films, documentaries and other filmed content.

The company provides cinema operators with IMAX projection and sound systems, including its IMAX with Laser technology, as well as theater design, installation and technical support. IMAX also works with filmmakers and studios on content capture, post-production and remastering to optimize movies for its format, including selected 2D and 3D releases.

Founded in 1967, IMAX has expanded from its origins in documentary and institutional film presentations into a global theatrical network.