JPMorgan Chase & Co. Increases IMAX (NYSE:IMAX) Price Target to $27.00

IMAX (NYSE:IMAX) had its target price upped by JPMorgan Chase & Co. from $25.00 to $27.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

IMAX has been the subject of a number of other reports. Rosenblatt Securities increased their price target on IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company increased their price target on IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday. Benchmark reissued a “buy” rating and set a $30.00 price target on shares of IMAX in a research note on Thursday. Macquarie increased their price target on IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Barrington Research increased their price target on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

IMAX Stock Down 3.4 %

NYSE IMAX opened at $26.03 on Friday. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 53.11, a price-to-earnings-growth ratio of 1.50 and a beta of 1.22. The business has a 50-day moving average price of $24.65 and a 200-day moving average price of $23.00. IMAX has a twelve month low of $14.94 and a twelve month high of $27.77.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The business had revenue of $92.67 million during the quarter, compared to the consensus estimate of $104.08 million. IMAX had a return on equity of 8.79% and a net margin of 7.40%. Research analysts expect that IMAX will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at IMAX

In other news, CFO Natasha Fernandes sold 2,957 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.52, for a total value of $75,462.64. Following the sale, the chief financial officer now directly owns 14,883 shares in the company, valued at approximately $379,814.16. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the sale, the executive vice president now owns 138,889 shares in the company, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock worth $1,662,110 over the last ninety days. Company insiders own 24.08% of the company’s stock.

Institutional Investors Weigh In On IMAX

Several hedge funds and other institutional investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of IMAX by 87.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,978 shares of the company’s stock worth $3,788,000 after buying an additional 68,957 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of IMAX in the fourth quarter worth approximately $999,000. Two Sigma Investments LP purchased a new stake in shares of IMAX in the fourth quarter worth approximately $2,411,000. State of Wyoming increased its holdings in IMAX by 184.6% during the 4th quarter. State of Wyoming now owns 21,606 shares of the company’s stock worth $553,000 after purchasing an additional 14,014 shares during the period. Finally, Polar Asset Management Partners Inc. increased its holdings in IMAX by 191.6% during the 4th quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company’s stock worth $5,236,000 after purchasing an additional 134,389 shares during the period. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

About IMAX

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.