Barrington Research Forecasts Strong Price Appreciation for IMAX (NYSE:IMAX) Stock

IMAX (NYSE:IMAX) had its target price hoisted by analysts at Barrington Research from $30.00 to $32.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Barrington Research’s target price would suggest a potential upside of 22.96% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Wedbush reaffirmed an “outperform” rating and issued a $32.00 target price on shares of IMAX in a research report on Wednesday, February 12th. Benchmark reissued a “buy” rating and set a $30.00 price target on shares of IMAX in a research report on Friday, January 17th. StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Roth Mkm raised their target price on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 price target on shares of IMAX in a research note on Thursday, January 16th. Two research analysts have 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.com, IMAX currently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

IMAX Trading Down 3.4 %

Shares of IMAX opened at $26.03 on Thursday. The firm has a 50-day moving average price of $24.65 and a 200 day moving average price of $23.00. IMAX has a 12-month low of $14.94 and a 12-month high of $27.77. The firm has a market capitalization of $1.37 billion, a P/E ratio of 53.11, a P/E/G ratio of 1.50 and a beta of 1.22.

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

Insider Transactions at IMAX

In related news, CFO Natasha Fernandes sold 2,957 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the transaction, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at approximately $379,814.16. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the company’s 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 completion of the transaction, the insider now owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. This represents a 20.06 % 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 in the last 90 days. 24.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IMAX

Several institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares during the last quarter. Huntington National Bank acquired a new stake in IMAX in the third quarter worth $34,000. Quarry LP increased its position in IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after buying an additional 2,350 shares during the period. Tower Research Capital LLC TRC increased its position in IMAX by 415.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock worth $185,000 after buying an additional 5,832 shares during the period. Finally, US Bancorp DE increased its position in IMAX by 23.4% in 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 period. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

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.