JPMorgan Chase & Co. Lowers IMAX (NYSE:IMAX) Price Target to $17.00

IMAX (NYSE:IMAXFree Report) had its price objective decreased by JPMorgan Chase & Co. from $20.00 to $17.00 in a report issued on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other analysts have also recently weighed in on IMAX. TheStreet cut shares of IMAX from a b- rating to a c rating in a report on Thursday, November 30th. The Goldman Sachs Group lowered their price objective on shares of IMAX from $15.00 to $13.00 and set a sell rating for the company in a research note on Thursday, January 11th. Benchmark cut their target price on IMAX from $24.00 to $22.00 and set a buy rating on the stock in a research report on Thursday, January 18th. Rosenblatt Securities reissued a buy rating and issued a $30.00 price objective on shares of IMAX in a report on Tuesday, December 5th. Finally, Wedbush reaffirmed an outperform rating and set a $26.00 target price on shares of IMAX in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $21.86.

Check Out Our Latest Stock Report on IMAX

IMAX Price Performance

NYSE:IMAX opened at $13.54 on Tuesday. The firm has a market capitalization of $739.42 million, a price-to-earnings ratio of 29.43, a PEG ratio of 1.42 and a beta of 1.22. The business has a 50 day simple moving average of $14.94 and a 200-day simple moving average of $17.18. IMAX has a 1 year low of $13.20 and a 1 year high of $21.82.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Macquarie Group Ltd. boosted its stake in shares of IMAX by 16.8% in the first quarter. Macquarie Group Ltd. now owns 3,002,830 shares of the company’s stock worth $57,594,000 after acquiring an additional 431,231 shares during the last quarter. Invesco Ltd. grew its holdings in shares of IMAX by 2.2% during the first quarter. Invesco Ltd. now owns 2,217,169 shares of the company’s stock worth $41,971,000 after buying an additional 48,232 shares in the last quarter. Millennium Management LLC raised its position in shares of IMAX by 21.3% in the fourth quarter. Millennium Management LLC now owns 2,194,019 shares of the company’s stock valued at $32,164,000 after buying an additional 385,912 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of IMAX by 1.8% in the fourth quarter. Alliancebernstein L.P. now owns 2,018,885 shares of the company’s stock worth $29,597,000 after buying an additional 36,620 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in IMAX by 6.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,684,780 shares of the company’s stock valued at $32,313,000 after acquiring an additional 107,989 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

About IMAX

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IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates through three segments: IMAX Technology Network; IMAX Technology Sales and Maintenance; and Film Distribution and Post-Production. 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.

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