IMAX’s (IMAX) Outperform Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of IMAX (NYSE:IMAX) in a research note released on Thursday,RTT News reports. They currently have a $32.00 price target on the stock.

Several other analysts also recently weighed in on the stock. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of IMAX in a research report on Thursday. Rosenblatt Securities boosted their price objective on shares of IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. Roth Mkm boosted their price objective on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company boosted their price objective on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.44.

IMAX Stock Down 1.2 %

Shares of IMAX stock opened at $26.90 on Thursday. IMAX has a 52-week low of $14.94 and a 52-week high of $27.38. The company has a 50 day moving average of $24.65 and a 200 day moving average of $22.96. The company has a market capitalization of $1.42 billion, a P/E ratio of 54.90, a P/E/G ratio of 1.50 and a beta of 1.22.

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

Insider Activity

In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the transaction, the insider now directly owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their position. 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 business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the transaction, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. This represents a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock valued at $1,662,110 in the last ninety days. 24.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IMAX

Several institutional investors have recently bought and sold shares of IMAX. US Bancorp DE increased its stake in IMAX by 23.4% in the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after buying an additional 1,452 shares during the period. Victory Capital Management Inc. grew its stake in shares of IMAX by 9.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock worth $29,136,000 after purchasing an additional 127,371 shares during the period. Huntington National Bank acquired a new position in shares of IMAX during the 3rd quarter worth $34,000. Royce & Associates LP grew its stake in shares of IMAX by 3.1% during the 3rd quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock worth $37,382,000 after purchasing an additional 54,850 shares during the period. Finally, Mizuho Markets Americas LLC grew its stake in shares of IMAX by 47.5% during the 3rd quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock worth $7,952,000 after purchasing an additional 124,811 shares during the period. 93.51% of the stock is owned by institutional investors and hedge funds.

IMAX Company Profile

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.