JPMorgan Chase & Co. Forecasts Strong Price Appreciation for IMAX (NYSE:IMAX) Stock

IMAX (NYSE:IMAXGet Free Report) had its price target lifted by JPMorgan Chase & Co. from $47.00 to $48.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 14.50% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Macquarie Infrastructure lifted their price target on IMAX from $39.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. The Goldman Sachs Group upgraded IMAX from a “sell” rating to a “neutral” rating and lifted their target price for the company from $22.00 to $34.00 in a research report on Tuesday, November 25th. B. Riley Financial reissued a “buy” rating on shares of IMAX in a report on Monday, December 8th. Rosenblatt Securities restated a “buy” rating and issued a $47.00 price target on shares of IMAX in a research note on Tuesday. Finally, Barrington Research reissued an “outperform” rating and issued a $42.00 price objective on shares of IMAX in a research note on Monday, January 26th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Read Our Latest Report on IMAX

IMAX Price Performance

IMAX stock traded up $5.40 during midday trading on Thursday, reaching $41.92. The company had a trading volume of 4,216,468 shares, compared to its average volume of 1,157,336. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 59.04, a price-to-earnings-growth ratio of 1.91 and a beta of 0.38. IMAX has a 1-year low of $20.48 and a 1-year high of $42.46. The stock has a 50 day moving average price of $36.23 and a 200-day moving average price of $33.81.

Hedge Funds Weigh In On IMAX

A number of institutional investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. lifted its stake in IMAX by 125.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $25,000 after acquiring an additional 500 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in IMAX in the third quarter worth about $27,000. Quarry LP raised its holdings in shares of IMAX by 166.8% in the 4th quarter. Quarry LP now owns 875 shares of the company’s stock worth $32,000 after purchasing an additional 547 shares during the period. First Horizon Corp purchased a new position in shares of IMAX during the 3rd quarter valued at $34,000. Finally, Jones Financial Companies Lllp lifted its stake 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 buying an additional 317 shares in the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about IMAX

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About IMAX

(Get Free Report)

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.

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Analyst Recommendations for IMAX (NYSE:IMAX)

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