IMAX Co. (NYSE:IMAX) Receives $28.63 Average Target Price from Analysts

Shares of IMAX Co. (NYSE:IMAX) have earned an average rating of “Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $28.63.

A number of research firms have recently issued reports on IMAX. Rosenblatt Securities restated a “buy” rating and issued a $28.00 price target on shares of IMAX in a research report on Thursday, January 16th. JPMorgan Chase & Co. increased 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. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research note on Tuesday. Benchmark restated a “buy” rating and issued a $30.00 price target on shares of IMAX in a research note on Friday, January 17th. Finally, Wedbush restated an “outperform” rating and set a $32.00 price target on shares of IMAX in a report on Friday, January 17th.

Insider Transactions at IMAX

In other news, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the sale, the executive vice president now owns 138,889 shares of the company’s stock, valued at $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was 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. This trade represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,176 shares of company stock worth $1,662,110. Corporate insiders own 24.08% of the company’s stock.

Institutional Investors Weigh In On IMAX

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its stake in IMAX by 108.4% in the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company’s stock valued at $81,007,000 after purchasing an additional 2,054,031 shares during the last quarter. 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 valued at $37,382,000 after buying an additional 54,850 shares during the period. Victory Capital Management Inc. grew its holdings 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. Mizuho Markets Americas LLC grew its stake in IMAX by 47.5% during the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock worth $7,952,000 after buying an additional 124,811 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in IMAX in the third quarter valued at about $6,322,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Price Performance

Shares of IMAX stock opened at $24.91 on Monday. The business has a 50 day simple moving average of $24.59 and a two-hundred day simple moving average of $22.47. The stock has a market capitalization of $1.31 billion, a P/E ratio of 56.61, a PEG ratio of 1.30 and a beta of 1.22. IMAX has a 12 month low of $13.20 and a 12 month high of $26.84.

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.