Barrington Research Reiterates “Outperform” Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reiterated by analysts at Barrington Research in a report issued on Friday,Benzinga reports. They presently have a $30.00 price objective on the stock. Barrington Research’s price objective indicates a potential upside of 29.76% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Wedbush restated an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. Benchmark reissued a “buy” rating and issued a $30.00 price target on shares of IMAX in a report on Friday. Roth Mkm raised their price objective on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price target on shares of IMAX in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, IMAX presently has an average rating of “Buy” and an average price target of $27.38.

IMAX Stock Performance

Shares of NYSE IMAX opened at $23.12 on Friday. IMAX has a 1 year low of $13.20 and a 1 year high of $26.84. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 52.55, a PEG ratio of 1.69 and a beta of 1.24. The stock’s 50-day simple moving average is $25.03 and its 200-day simple moving average is $21.66.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $93.71 million. During the same period last year, the firm earned $0.27 earnings per share. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, research analysts predict that IMAX will post 0.77 EPS for the current year.

Insider Transactions at IMAX

In other news, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the transaction, the insider now directly owns 25,139 shares in the company, valued at $641,295.89. This represents a 20.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.52, for a total value of $75,462.64. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock valued at $1,662,110 over the last three months. Company insiders own 24.08% of the company’s stock.

Institutional Investors Weigh In On IMAX

Large investors have recently made changes to their positions in the stock. Huntington National Bank bought a new stake in IMAX during the third quarter worth $34,000. Headlands Technologies LLC bought a new stake in shares of IMAX in the 2nd quarter valued at about $35,000. Quarry LP lifted its stake in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares during the last quarter. nVerses Capital LLC bought a new position in IMAX during the third quarter worth about $70,000. Finally, US Bancorp DE increased its position in IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after buying an additional 1,452 shares during the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.